Llang 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 $1,345,434 of merchandise on credit (that had cost $975,000), terms n/30. b. Wrote off $18,300 of uncollectible accounts receivable. c. Received $669,200 cash in payment of accounts receivable. d. In adjusting the accounts on December 31, the company estimated that 1.5% of accounts receivable would be uncollectible. Year 2 e. Sold $1,525,634 of merchandise on credit (that had cost $1,250,000), terms n/30. f. Wrote off $27,800 of uncollectible accounts receivable. g. Received $1,204,600 cash in payment of accounts receivable. h. In adjusting the accounts on December 31, the company estimated that 1.5% of accounts receivable would be uncollectible. Required: Prepare journal entries to record Llang'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 Journal Entry Year 1 Year 2 Prepare journal entries to record Liang's 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.) View transaction list Journal entry worksheet < 1 2 3 4 5 Sold $1,525,634 of merchandise on credit, terms n/30. Note: Enter debits before credits. Transaction e(1) General Journal Debit Credit Record entry Clear entry View general journal > < Journal Entry Year 1 Journal Entry Year 2 >