The company uses the perpetual inventory system, and it applies the allowance method for its accounts receivable.) JUUIIAI EILI Y WUI KSIIECL 1 2 In adjusting the accounts on December 31 , the company estimated that 2.00% of accounts receivable would be uncollectible. Note: Enter debits before credits. Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions invo on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows Year 1 a. Sold $1,347,800 of merchandise on credit (that had cost $982,600 ), terms n/30. b. Wrote off $18,800 of uncollectible accounts receivable. c. Received $672,900 cash in payment of accounts receivable. d. In adjusting the accounts on December 31 , the company estimated that 200% of accounts receivable would be uncollectib. Year 2 e. Sold $1,508,700 of merchandise (that had cost $1,294,100 ) on credit, terms n/30. f. Wrote off $33,900 of uncollectible accounts recelvable. g. Received $1,216,100 cash in payment of accounts receivable. h. In adjusting the accounts on December 31 , the company estimated that 2.00% 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 de expense. (The company uses the perpetual inventory system, and it applies the allowance method for its accounts receivable) (Ro your intermediate calculations to the nearest dollar.)