Mar.		17		Accounts receivable of $3,300 were written off as uncollectible. The company uses the allowance method.
		30		Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7% to be paid on March 30, 2022.
May		30		Discounted the $39,000 note at a local bank. The banks discount rate is 8%. The note was discounted without recourse and the sale criteria are met.
June		30		Sold merchandise to the Blankenship Company for $28,000. Terms of the sale are 2/10, n/30. Weldon uses the gross method to account for cash discounts.
July		8		The Blankenship Company paid its account in full.
Aug.		31		Sold stock in a nonpublic company with a book value of $6,600 and accepted a $8,100 noninterest-bearing note with a discount rate of 8%. The $8,100 payment is due on February 28, 2022. The stock has no ready market value.
Dec.		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 $950,000. The allowance had a balance of $28,000 at the start of 2021.