Liang Company began operations in Year 1. During its fest two years, the company completed a number of trarisactions involving saks on credt, accounts recelvable collections, and bod debts. These transactions are summartsed as follows. Year 1 a. Sold $1,346,300 of merchandse on credit fthat had cost $977,400%, terms n/30 b. Wrote off $20,600 of uncellectible accounts receivable. c. Received $670,500 cess in payment of accounts receivable. d. In adjusting the accounts on December 31, the company estimated that 130% of accounts receivable would be uncollectbile. Year 2 e. Sold $1,514,100 of merchandise (that had cost $1,30Q,400 ) on credt, terms n/30. f. Wrote off $27.200 of uncollectible accounts receivable. 9. Received $1,249,800 cash in payment of accounts receivable. h. In adjusting the accounts on December 31 , the company estimated that 1.30% of accounts recelvable would be uncollectble. Required: Required. Prepare journal entries to record Llang's Year 1 and Year 2 summarized transactions and its yoar-iend adjustments to record bad debts expense. (The company uses the perpetual inventory system, and it applios the allowance method for is accounts recelvable) Note: Round your intermediate calculations to the nearest dollar. Complete this question by entering your answers in the tabs below. Prepare journal entries to record Liang's Year 1 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 recelvable.) Journal entry worksheet (1) 3 (2) In adjusting the accounts on December 31 , the company estimated that 1.30% of accounts receivable would be uncollectible. Note: Enter debits before credits. Prepare journal entries to record Liang's 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 recelvable.) Journal entry worksheet In adjusting the accounts on December 31 , the company estimated that 1.30% of accounts receivable would be uncollectible. Note: Enter debits before credits