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 $1,346,200 of merchandise on credit (that had cost $978,500 ), terms n/30. b. Wrote off $21,900 of uncollectible accounts receivable. c. Received $674,000 cash in payment of accounts receivable. d. In adjusting the accounts on December 31 , the company estimated that 1.80% of accounts receivable would be uncollectible. Yoar 2 e. Sold $1,532,100 of merchandise (that had cost $1,275,500 ) on credit, terms n/30. f. Wrote off $33,300 of uncollectible accounts receivable. g. Received $1,371,800 cash in payment of accounts receivable. h. In adjusting the accounts on December 31 , the company estimated that 1.80% of accounts receivable would be uncollectible. Journal entry worksheet 5 Sold $1,346,200 of merchandise on credit, terms n/30. Note: Enter debits before credits. Journal entry worksheet Record cost of goods sold, $978,500. Note: Enter debits before credits. Journal entry worksheet Wrote off $21,900 of uncollectible accounts receivable. Note: Enter debits before credits. Journal entry worksheet