Help Sove & Exit ang Company began operations in Year 1. During its first two years, the company completed a number of transactions volving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows ear 1 . Sold $1,350,400 of merchandise (that had cost $984,800) on credit, terms n/30 . Wrote off $18.200 of uncollectible accounts receivable. c. Received $672,200 cash in payment of accounts receivable, d. In adjusting the accounts on December 31, the company estimated that 3.00% of accounts receivable would be uncollectible Year 2 e. Sold 51,553,100 of merchandise (that had cost $1.294,900) on credit , terms 1/30 1. Wrote off $32,400 of uncollectible accounts receivable. g. Received $1,303,900 cash in payment of accounts receivable. h. In adjusting the accounts on December 31, the company estimated that 3.00% of accounts receivable would be uncollectible. Required: Prepare journal entries to record Liang's Year 1 and Year 2 summarized transactions and its year-end adjustments to record bad debts expense (The company uses the perpetual inventory system and it applies the allowance method for its accounts Saved Help Sove Required: Prepare journal entries to record Liang's Year 1 and Year 2 summarized transactions and its year-end adjustments bad debts expense. (The company uses the perpetual inventory system and it applies the allowance method for receivable.) (Round your intermediate calculations to the nearest dollar.) Complete this question by entering your answers in the tabs below. JE Year 1 JE Year 2 Prepare journal entries to record Liang's Year 1 summarized transactions and its year-end adjustments to record bad del (The company uses the perpetual inventory system and it applies the allowance method for its accounts receivable.) View transaction list View journal entry worksheet No General Journal Debit Credit Transaction a(1) 1 1,350,400 Accounts payable Sales 1,350.400 2 a(2) 984,800 Cost of good sold Merchandise inventory 984,800