Year 1 Sold $1,350,700 of merchandise on credit (that had cost $977,800), terms n/30.
Wrote off $19,100 of uncollectible accounts receivable.
Received $666,100 cash in payment of accounts receivable.
In adjusting the accounts on December 31, the company estimated that 2.60% of accounts receivable would be uncollectible.

Year 2:

Sold $1,587,300 of merchandise (that had cost $1,313,400) on credit, terms n/30.
Wrote off $25,500 of uncollectible accounts receivable.
Received $1,153,900 cash in payment of accounts receivable.
In adjusting the accounts on December 31, the company estimated that 2.60% 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.