ASAP PLEASERE

Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving receivables that occurred during 2021: Mar. 17 Accounts receivable of $3,500 were written off as uncollectible. The company uses the allowance method. 30 Loaned an officer of the company $33,000 and received a note requiring principal and interest at 8t to be paid on March 30, 2022. May 30 Discounted the $33,000 note at a local bank. The bank's discount rate is 99. The note was discounted without recourse and the sale criteria are met. June 30 sold merchandise to the blankenship Company for $30,000. Terms of the sale are 3/10, 1/30. Weldon uses the gross method to account for cash discounts. July B The Blankenship Company paid its account in full. Aug. Ji Sold stock in a nonpublic company with a book value of $6,800 and accepted a $7,800 noninterest-bearing note with a discount rate of 94. The $7,800 payment is due on February 28, 2022. The stock has no ready market valu. Dec. 31 Weldon estimates that the allowance for uncollectible accounts should have a balance in it at year-end equal to 31 of the gross accounts receivable balance of $970,000. The allowance had a balance of $30,000 at the start of 2021. Required: 1 & 2. Prepare journal entries for each of the above transactions and additional year-end adjusting entries indicated. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations and round your final answers to nearest whole dollar.) View transaction list