4 Help Seve &Exit Subn Check my work Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving receivables thot occured during Mar. 17 Accounts receivable of 33,709 were written off as uncollectible. The company uses the allowance an officer of the company $45,000 and received a note requiring principal and interest at 2018 method. 8% to be paid on March 30, 2019. discounted without recourse and the sale criteria are met uses the gross method to account for cash discounts. 30 Loaned May 30 Discounted the $45,000 note at a local bank. The bank's discount rate is 9%. The note was June 30 Sold merchandise to the Blankenship Company for $32,000. Terms of the sale are 2/10, n/30. Weldon uly 8 The Blankenship Company paid its account in full. Aug. 31 Sold stock in a nonpublic company with a book value of $7,000 and accepted a $8,200 noninterest bearing note with a discount rate of 9%. The $8,200 payment is due on February 28, 2019, The stock has no ready market value. Dec. 31 Bad debt expense is estimated to be 1% of credit sales for the year. Credit sales for 2018 were $900,000. Required: 1 & 2. Prepare journal entries for each of the above transactions and additional year-end adjusting entries indicated. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet