Liang Company began operations on January 1, 2016. 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. 2016 a. Sold $1,349,300 of merchandise (that had cost $983,000) on credit, terms n/30. b. Wrote off $21,800 of uncollectible accounts receivable. c. Received $669,100 cash in payment of accounts receivable. d. In adjusting the accounts on December 31, the company estimated that 1.60% of accounts receivable will be uncollectible. 2017 e. Sold $1,549,900 of merchandise (that had cost $1,273,200) on credit, terms n/30. f. Wrote off $28,200 of uncollectible accounts receivable. g. Received $1,150,000 cash in payment of accounts receivable. h. In adjusting the accounts on December 31, the company estimated that 1.60% of accounts receivable will be uncollectible. Required: Prepare journal entries to record Liang's 2016 and 2017 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 the nearest dollar amount.) its accounts receivable.) (Round your intermediate calculations to