Please Help! Liang 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 $$1,345,000$ of merchandise on credit $($that had cost $$978,100),$ terms $\frac{n}{30}.$

b$.$ Wrote off $$20,800$ of uncollectible accounts receivable.

c$.$ Received $$668,800$ cash in payment of accounts receivable.

d$.$ In adjusting the accounts on December $31,$ the company estimated that $2\mathrm{.}30\%$ of accounts receivable would be uncollectible.

Year $2$

e$.$ Sold $$1,540,900$ of merchandise $($that had cost $$1,280,900)$ on credit, terms $\frac{n}{30}.$

f$.$ Wrote off $$34,800$ of uncollectible accounts receivable.

g$.$ Received $$1,315,000$ cash in payment of accounts receivable.

h$.$ In adjusting the accounts on December $31,$ the company estimated that $2\mathrm{.}30\%$ 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.