Liang Company began operations on January 1, 2017. 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.

2017

Sold $1,348,400 of merchandise (that had cost $984,500) on credit, terms n/30.

Wrote off $18,400 of uncollectible accounts receivable.

Received $670,200 cash in payment of accounts receivable.

In adjusting the accounts on December 31, the company estimated that 1.30% of accounts receivable will be uncollectible.

2018

Sold $1,516,800 of merchandise on credit (that had cost $1,347,100), terms n/30.

Wrote off $32,000 of uncollectible accounts receivable.

Received $1,302,100 cash in payment of accounts receivable.

In adjusting the accounts on December 31, the company estimated that 1.30% of accounts receivable will be uncollectible.

Required:

Prepare journal entries to record Liangs 2017 and 2018 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.) (Round your intermediate calculations to the nearest dollar amount.)