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Problem $7-4$A $($Algo$)$ Accounts receivable transactions and bad debts adjustments LO C$1,$ P$2,$ P$3$

Liang Company began operations in Year $1.$ During its first two years, the company completed a number of transactions involving sales on credit, accounts recelvable collections, and bad debts. These transactions are summarized as follows.

Year $1$

a$.$ Sold $$1,348,800$ of merchandise on credit $($that had cost $$982,600),$ terms $\frac{n}{30}.$

b$.$ Wrote off $$19,500$ of uncollectible accounts recelvable.

c$.$ Recelved $$668,900$ cash in payment of accounts recelvable.

d$.$ In adjusting the accounts on December $31,$ the company estimated that $2\mathrm{.}00\%$ of accounts recelvable would be uncollectible.

Year $2$

e$.$ Sold $$1,574,300$ of merchandise $($that had cost $$1,289,700)$ on credit, terms n$/30.$

f$.$ Wrote off $$31,500$ of uncollectible accounts recelvable.

g$.$ Recelved $$1,264,900$ cash in payment of accounts recelvable.

h$.$ In adjusting the accounts on December $31,$ the company estimated that $2\mathrm{.}00\%$ of accounts recelvable would be uncollectible.

Requlred:

Prepare journal entrles to record Llang's Year $1$ and Year $2$ summarlzed transactlons and its year$-$end adjustments to record bad debts expense. $($The company uses the perpetual Inventory system, and It applles the allowance method for Its accounts recelvable.$)$

Note: Round your Intermedlate calculations to the nearest dollar.

Answer is not complete.

Prey

$1$ of $1$ H

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I JUST NEED HELP WITH YEAR $2$ letter H$.$ I already have everything else solved

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