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Liang Company began operations on January 1, 2017. 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. 2017 a. Sold $1,347100 of merchandise (that had cost $983,600) on credit, terms n/30. b. Wrote off $21,100 of uncollectible accounts receivable. c. Received $667,400 cash in payment of accounts receivable. d. In adjusting the accounts on December 31, the company estimated that 250% of accounts receivable will be uncollectible. 2018 e. Sold $1,501,200 of merchandise on credit (that had cost $1,291.000), terms n/30. f. Wrote off $28,100 of uncollectible accounts receivable. g. Received $1.282.100 cash in payment of accounts receivable. h in adjusting the accounts on December 31, the company estimated that 250% of accounts receivable will be uncollectible. Requlrec Prepare journal entries to record Liang's 2017 and 2018 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 Intermedlate calculatlons to the nearest dollar amount.) Complete this question by entering your answers in the tabs below

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