Llang Company began operations in Year 1. Duting its first two years. the company completed a number of transactions irvolving sales on credit, accounts tecelvable collections, and bad debts. These transactions are summarized as follows: Year 1 o. Sold \$1,351,500 of merchandise on credit (that had cost \$978,700), ferms ri/30. b. Wrote off $20.200 of uncollectible accounts receivable. c. Received $672.700 cash in payment of accounts recelvable. d. In adjusting the accounts on December 31 , the company estimated that 2.208 of accounts receivable would be uncollectible Year 2 e. Sold $1,557,600 of merchandise (that had cost $1,268,800 ) on credit, terms n/30. f. Wrote off $32,700 of uncollectible accounts receivable. 9. Received $1,215,800 cash in payment of accounts recelvable. h. In adjusting the accounts on December 31 , the company estimated that 2.20% of accounts receivable would be uncollecitile. Required: Prepare joulnal entrles to record Llang's Year 1 and Year 2 summatized transactions and its year-end adjustments to record bad debts expense. (The company uses the perpetual itiventory system, and it applies the atlowance method for its accounts receivable) (Round your intermediate calculotions to the nearest dollor.) Prepare journal entries to record Liang's Year 1 summarized transactions and its year-end adjustments to record bad debts expense. (The company wses the perpetual inventory system, and it applies the allowance method for its accounts receivable.) Journal entry worksheet Sold $1,351,500 of merchandise on credit, terms n/30. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. 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 recelvable.) Journal entry worksheet Sold 51,557,600 of merchandise on credit, terms n/30. Notel Enter debils before ciedits