i need part 5 for each. please be careful !

Chapter 7 Homework 7 10 points Saved Help Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate comple 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 a. Sold $1,345,434 of merchandise on credit (that had cost $975,000), terms n/30. b. Wrote off $18,300 of uncollectible accounts receivable. c. Received $669,200 cash in payment of accounts receivable. d. In adjusting the accounts on December 31, the company estimated that 1.5% of accounts receivable would be uncollectible. Year 2 e. Sold $1,525,634 of merchandise on credit (that had cost $1,250,000), terms n/30. f. Wrote off $27,800 of uncollectible accounts receivable. g. Received $1,204,600 cash in payment of accounts receivable. h. In adjusting the accounts on December 31, the company estimated that 1.5% 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.) Answer is not complete. Complete this question by entering your answers in the tabs below. JE Year 11 JE Year 2 JE Year 1 JE 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.) No Transaction General Journal Debit Credit a(1) 1,345,434 Accounts receivable & Sales 1,345,434 Cost of goods sold 975,000 975,000 18,300 18,300 669,200 669,200 9,869 9,869 1 2 3 4 5 a(2) b. C. d Merchandise inventory Allowance for doubtful accounts Accounts receivable Cash Accounts receivable. Bad debts expense Allowance for doubtful accounts JE Year 1 JE Year 2 > 33 30 00 nts ww JE Year 1 JE Year 2 Prepare journal entries to record Liang's 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.) No Transaction General Journal Debit Credit e(1) Accounts receivable 1,525,634 Sales 1,525,634 e(2) Cost of goods sold 1,250,000 1,250,000 1. 27,800 27,800 9 1,204,600 1,204,600 h 1 2 3 4 5 Merchandise inventory Allowance for doubtful accounts Accounts receivable Cash Accounts receivable Bad debts expense Allowance for doubtful accounts > 33 30