Veidon Corporation's fiscal year ends December 31. The following is a list of transactions involving receivables that occurred during 2021: 17 Accounts receivable of $1,700 were written off as uncollectible. The company uses the allowance method. 30 Loaned an officer of the company $20,000 and received a note requiring principal and interest at 71 to be paid on March 30, 2022 . May 30 Discounted the $20,000 note at a local bank. The bank's discount rate is 88 . The note was discounted without recourse and the sale oriteria are net. June 30 sold merchandise to the Blankenship Company for $12,000. Terns of the sale are 2/10,n/30. Weldon uses the gross nethod to account for eash discounts. July 8 The Blankenship Conpany paid its account in full. Aug. 31 sold stock in a nonpublie company with a book value of $5,000 and accepted a $6,000 noninterest-bearing note with a discount rate of 81 . The $6,000 payment is due on February 28,2022 . The stock has no ready market value. Dec. 31 Neldon estimates that the allowance for uncollectible accounts should have a balance in it at year-end equal to 21 of the gross accounts receivable balance of $700,000. The allowance had a balance of $12,000 at the start of 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.)