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 $1,347,100 of merchandise on credit (that had cost $984,200 ), terms n/30. b. Wrote off $18,100 of uncollectible accounts receivable. c. Received $673,100 cash in payment of accounts receivable. d. In adjusting the accounts on December 31, the company estimated that 1.20% of accounts receivable would be uncollectible. Year 2 e. Sold $1,513,400 of merchandise (that had cost $1,270,500 ) on credit, terms n/30. f. Wrote off $31,100 of uncollectible accounts receivable. g. Received $1,237,900 cash in payment of accounts receivable. h. In adjusting the accounts on December 31 , the company estimated that 1.20% 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. Journal entry worksheet In adjusting the accounts on December 31 , the company estimated that 1.20% of accounts receivable would be uncollectible. Note: Enter debits before credits. Journal entry worksheet In adjusting the accounts on December 31 , the company estimated that 1.20% of accounts receivable would be uncollectible. Note: Enter debits before credits