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

Year $1$

Sold $$1,348,500$ of merchandise on credit $($that had cost $$983,800),$ terms n$/30.$

Wrote off $$18,200$ of uncollectible accounts receivable.

Received $$668,200$ cash in payment of accounts receivable.

In adjusting the accounts on December $31,$ the company estimated that $3\mathrm{.}10\%$ of accounts receivable would be uncollectible.

Year $2$

Sold $$1,566,600$ of merchandise $($that had cost $$1,345,100)$ on credit, terms n$/30.$

Wrote off $$34,200$ of uncollectible accounts receivable.

Received $$1,388,500$ cash in payment of accounts receivable.

In adjusting the accounts on December $31,$ the company estimated that $3\mathrm{.}10\%$ 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.