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PLEASE help me with this. i keep getting it wrong. its all one questions. thank you Liang Company began operations in Year 1. During its

PLEASE help me with this. i keep getting it wrong. its all one questions. thank you image text in transcribed
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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 $981,200 ), terms n/30. b. Wrote off $21,900 of uncollectible accounts recelvable. c. Recelved $667,300 cash in payment of accounts receivable. d. In adjusting the accounts on Decomber 31 , the company estimated that 3.00% of accounts receivable would be uncollectible. Year 2 e. Sold $1,517,100 of merchandise (that had cost $1,337,200 ) on credit, terms n/30. f. Wrote off $33,900 of uncollectible accounts receivable. g. Received $1,191,500 cash in payment of accounts receivable. h. In adjusting the accounts on December 31 , the company estimated that 3.00% of accounts recelvable 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. Complete this question by entering your answers in the tabs below. Prepare journal entries to record Uang's Year 1 summarized transactions and its year-end adfustments to record bad debts expense. (The company uses the perpetual inventory system, and it applies the allowance method for its accounts receivable.) Prpare journal entries to record Liang's Year 2 summarized transactions and its (The company uses the perpetual inventory system, and it applies the allowance 1 Sold $1,517,100 of merchandise on credit, terms n/30. 2. Record cost of goods sold, $1,337,200. 3 Wrote off $33,900 of uncollectible accounts receivable. 4 Received $1,191,500 cash in payment of accounts receivable. 5 In adjusting the accounts on December 31 , the company estimated that 3.00% of accounts receivable would be uncollectible. Prepare journal entries to record Liang's Year 1 summarized transactions and (The company uses the perpetual inventory system, and it applies the allowar 1 Sold $1,345,000 of merchandise on credit, terms n/30. 2 Record cost of goods sold, $981,200. 3 Wrote off $21,900 of uncollectible accounts receivable. 4 Received $667,300 cash in payment of accounts receivablesim 5 In adjusting the accounts on December 31, the company estimated that 3.00% of accounts receivable would be uncollectible

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