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 $1,352,300 of merchandise on credit (that had cost $981,300 ), terms n/30. b. Wrote off $21,200 of uncollectible accounts receivable. c. Received $670,400 cash in payment of accounts receivable. d. In adjusting the accounts on December 31 , the company estimated that 1.40% of accounts receivable would be uncollectible. Year 2 e. Sold $1,525,500 of merchandise (that had cost $1,310,600 ) on credit, terms n/30, f. Wrote off $27,800 of uncollectible accounts receivable. 9. Received $1,245,000 cash in payment of accounts receivable. h. In adjusting the accounts on December 31 , the company estimated that 1.40% of accounts receivable would be. uncollectible. Required: Prepare journal entries to record Liang's Year 1 and Yeor 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.) (Round your intermediate calculations to the nearest dollar.) Journal entry worksheet 1 2 In adjusting the accounts on December 31 , the company estimated that 1.40% of accounts receivable would be uncollectible. Note: Enter debits before credits