on creait, accounts receivadie collections, ana dad aedis. I nese transactions are summarizea as rollows.

Year $1$

a$.$ Sold $$1,351,600$ of merchandise on credit $($that had cost $$980,200),$ terms $\frac{n}{30}.$

b$.$ Wrote off $$18,800$ of uncollectible accounts receivable.

c$.$ Received $$673,400$ cash in payment of accounts receivable.

d$.$ In adjusting the accounts on December $31,$ the company estimated that $2\mathrm{.}20\%$ of accounts receivable would be uncollectible.

Year $2$

e$.$ Sold $$1,595,100$ of merchandise $($that had cost $$1,341,200)$ on credit, terms $\frac{n}{30}.$

f$.$ Wrote off $$26,300$ of uncollectible accounts receivable.

g$.$ Received $$1,147,300$ cash in payment of accounts receivable.

h$.$ In adjusting the accounts on December $31,$ the company estimated that $2\mathrm{.}20\%$ of accounts receivable would be uncollectible.

Required:

Prepare journal entries to record Liang'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.

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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

$\backslash$table$[[$No$,$Transaction,General Journal,Debit,Credit$],[1,$e$(1),$Accounts receivable,$1,595,100,],[,,$Sales,$1,595,100,],[,,,1,]]$