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 a. Sold $1,354,500 of merchandise on credit (that had cost $979,800 ), terms n/30. b. Wrote off $21,100 of uncollectible accounts receivable. c. Recelved $671,400 cash in payment of accounts recelvable. d. In adjusting the accounts on December 31 , the company estimated that 2.00% of accounts receivable would be uncollectible. Year 2 e. Sold $1,507,300 of merchandise (that had cost $1,297,900 ) on credit, terms n/30. f. Wrote off $27,600 of uncollectible accounts recelvable. g. Received $1,140,100 cash in payment of accounts receivable. h. In adjusting the accounts on December 31 , the company estimated that 2.00% of accounts receivable would be uncollectible. Required: Prepare joumal 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 recelvable.) (Round your intermediate calculations to the nearest dollar.) Complete this question by entering your answers in the tabs below. Prepane joumal entries to record Llang'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.)