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 $1,353.100 of merchandise (that had cost $975,000) on credit, terms n/30. b. Wrote off $20,500 of uncollectible accounts receivable. c. Received $670,700 cash in payment of accounts receivable. d. In adjusting the accounts on December 31, the company estimated that 220% of accounts receivable will be uncollectible. 2017 e. Sold $1,535,200 of merchandise (that had cost $1,284,900) on credit, terms n/30. . Wrote off $25,600 of uncollectible accounts receivable. g. Received $1,249,500 cash in payment of accounts receivable . h. In adjusting the accounts on December 31, the company estimated that 220% of accounts receivable will be uncollectible. Requlrec 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 its accounts receivable.) (Rund your Intermedlete calculatlons to the nearest dollar amount.) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below JE 2016 JE 2017 Prepare journal entries to record Liang's 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 its accounts receivable.) No General Journal Debit Credit Accounts receivable 1,535.200 Sales 1.535,200 e(2) Cost of good sold .284.900 Merchandise inventory 1.284,900 Allowance for doubtful accounts 25.6000 Accounts receivable 25,600 Cash 1.249,500 Accounts receivable 1.249,500 h. Bad debts expense 33,774 Allowance for doubtful accounts 20,284