Problem I. West Corporation's fiscal year ends December 31. The following is list of tansa receivables that occurred during 2013 1. Mar. 17: Accounts receivable of $1,700 were written off as uncollectible. The company uses the allo 2. Mar. 30 Loaned an officer of the company $20,000 and received a note requiring p on March 30, 2014 ouna 30. Soid merchandise to the Blankenship Company for $12.000. Tems of the sale are 2/10, n gross method to account for cash discounts July 8 The Blankenship Company paid its account in full within 10 days (2% discount was taken). Dec 31 Bad debt expense is estimated to be 2% of Accounts receivable for the year Account Rec of 2013 was $700.000. The credit balance of Allowance for doubtful accounts at the beginning o Hint: remember to include the Mar. 17's transaction before determine the amount to be recorded equired: epare journal entries for each of the above transactions (round all calculations to the nearest d Problem I. West Corporation's fiscal year ends December 31. The following is list of tansa receivables that occurred during 2013 1. Mar. 17: Accounts receivable of $1,700 were written off as uncollectible. The company uses the allo 2. Mar. 30 Loaned an officer of the company $20,000 and received a note requiring p on March 30, 2014 ouna 30. Soid merchandise to the Blankenship Company for $12.000. Tems of the sale are 2/10, n gross method to account for cash discounts July 8 The Blankenship Company paid its account in full within 10 days (2% discount was taken). Dec 31 Bad debt expense is estimated to be 2% of Accounts receivable for the year Account Rec of 2013 was $700.000. The credit balance of Allowance for doubtful accounts at the beginning o Hint: remember to include the Mar. 17's transaction before determine the amount to be recorded equired: epare journal entries for each of the above transactions (round all calculations to the nearest d