Return to question 2 Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving receivables that occurred during 2018 Mar. 17 Accounts receivable of $2,200 were written off as uncollectible. The company uses the allowance method 30 Loaned an officer of the company $27,000 and received a note requiring principal and interest at 8% to be points paid on March 30, 2019 without recourse and the sale criteria are met the gross method to account for cash discounts. May 30 Discounted the $27,000 note at a local bank. The bank's discount rate is 9%. The note was discounted June 30 Sold merchandise to the Blankenship Company for $17,000. Terms of the sale are 3/10, n/30. Weldon uses July 8 The Blankenship Company paid its account in full Aug. 31 Sold stock in a nonpublic company with a book value of $5,500 and accepted a $7,000 noninterest-bearing note with a discount rate of 9%. The $7,000 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 $750,000. 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.) Answer is not complete No Date General Journal Debit Credit March 17 2018 Allowance for uncollectible accounts 2,200 Accounts receivable 2,200 Mc Graw Prev 2 of 5 Next>