3 5 points 01:22:19 eBook Print References Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving receivables that occurred during 2024: Check my work March 17 Accounts receivable of $3,000 were written off as uncollectible. The company uses the allowance method. March 30 Loaned an officer of the company $33,000 and received a note requiring principal and interest at 8% to be paid on March 30, 2025. May 30 Discounted the $33,000 note at a local bank. The bank's discount rate is 9%. The note was discounted without recourse and the sale criteria are met. June 30 Sold merchandise to the Blankenship Company for $25,000. Terms of the sale are 2/10, 1/30. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Company paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $6,300 and accepted a $8,000 noninterest-bearing note with a discount rate of 9%. The $8,000 payment is due on February 28, 2025. The stock has no ready market value. December 31 Weldon estimates that the allowance for uncollectible accounts should have a balance in it at year-end equal to 3% of the gross accounts receivable balance of $920,000. The allowance had a balance of $25,000 at the start of 2024. Required: 1 & 2. Prepare journal entries for each of the above transactions and additional year-end adjusting entries indicated. Note: If no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld. Do not round Intermediate calculations and round your final answers to nearest whole dollar. View transaction list Journal entry worksheet