Weldon Corporation's fiscal year ends December $31.$ The following is a list of transactions involving recelvables that occurred during

$2024$:

March $17$ Accounts receivable of $$2,300$ were written off as uncollectible. The company uses the allowance method.

March $30$ Loaned an officer of the company $$30,000$ and received a note requiring principal and interest at $5\%$ to be paid on March

$30,2025.$

May $30$ Discounted the $$30,000$ note at a local bank. The bank's discount rate is $6\%.$ The note was discounted without recourse

and the sale criteria are met.

June $30$ Sold merchandise to the Blankenship company for $$18,000.$ Terms of the sale are $\frac{2}{10},\frac{n}{30}.$ Weldon uses the gross

method to account for cash discounts.

July $8$ The Blankenship company paid its account in full.

August $31$ sold stock in a nonpublic company with a book value of $$5,600$ and accepted a $$6,600$ noninterest$-$bearing note with a

discount rate of $6\%.$ The $$6,600$ payment is due on February $28,2825.$ The stock has no ready market value.

December $31$ weldon estimates that the allowance for uncollectible accounts should have a balance in it at year$-$end equal to $2\%$ of

the gross accounts receivable balance of $$850,000.$ The allowance had a balance of $$18,000$ at the start of $2024.$

Required:

$1$ & $2.$ Prepare journal entrles for each of the above transactions and additional year$-$end adjusting entries indicated.

Note: If no entry Is required for a transactlon$/$event$,$ select $"$No journal entry required" In the first account fleld. Do not round

Intermedlate calculations and round your final answers to nearest whole dollar.

Journal entry worksheet

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Note: Enter debits before credits.