$4$

Journal Entry

Journal Entry

Year $1$

Year $2$

Prepare journal entries to record Liang's Year $1$ 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.$)$

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$2$

$3$

$4$

$5$

Sold $$1,350,600$ of merchandise on credit, terms $\frac{n}{30}.$

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[a(1),,,],[,,,],[,,,],[,,,]]$

Prey.

$4$ of $5$

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