Liang Company began operations in Year $1.$ During its first two years, the company completed a number of transactionis invurving saive on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows.

Year $1$

a$.$ Sold $$1,346,600$ of merchandise on credit $($that had cost $$980,600),$ terms n$/30.$

b$.$ Wrote off $$18,700$ of uncollectible accounts receivable.

c$.$ Received $$667,500$ cash in payment of accounts receivable.

d$.$ In adjusting the accounts on December $31,$ the company estimated that $1\mathrm{.}20\%$ of accounts receivable would be uncolrectible.

Year $2$

e$.$ Sold $$1,516,300$ of merchandise $($that had cost $$1,281,500)$ on credit, terms n$/30.$

f$.$ Wrote off $$30,200$ of uncollectible accounts receivable.

g$.$ Received $$1,264,000$ cash in payment of accounts receivable.

h$.$ In adjusting the accounts on December $31,$ the company estimated that $1\mathrm{.}20\%$ 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 receivable.$)$

Note: Round your intermediate calculations to the nearest dollar.

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