Year 1 & 2 for entry 5 only.

Check my work 4 View transaction list Journal entry worksheet 75 oints & 01:51:20 In adjusting the accounts on December 31, the company estimated that 1.60% of accounts receivable would be uncollectible. eBook References Note: Enter debits before credits. Transaction General Journal Debit Credit d. Bad debts expense Allowance for doubtful accounts Record entry Clear entry View general journal 4 Journal entry worksheet ts In adjusting the accounts on December 31, the company estimated that 1.60% of accounts receivable would be uncollectible. 01:51:11 Note: Enter debits before credits. eBook Transaction General Journal Debit Credit h. ferences Bad debts expense Allowance for doubtful accounts Record entry Clear entry View general journal Check my work 4 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 3.75 points 8 01:51:25 a. Sold $1,346,800 of merchandise (that had cost $977,600) on credit, terms n/30. b. Wrote off $18,900 of uncollectible accounts receivable. c. Received $672,800 cash in payment of accounts receivable. d. In adjusting the accounts on December 31, the company estimated that 1.60% of accounts receivable would be uncollectible. eBook Year 2 References e. Sold $1,583,600 of merchandise (that had cost $1,262,000) on credit, terms n/30. f. Wrote off $31,300 of uncollectible accounts receivable. g. Received $1,239,400 cash in payment of accounts receivable. h. In adjusting the accounts on December 31, the company estimated that 1.60% 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.) (Round your intermediate calculations to the nearest dollar.)