Weldon Corporation's fiscal year ends December 31 . The following is a list of transactions involving feceivables that occured during 2024 March 17 Accounts recefvable of $2,500 were uritten of f as uncollectlble. The coepany utes the allowance acthod. Harch 30 Loaned an offlcer of the eoepany $30,000 and recelved a note requirling principal and interest at as to be paid on Harch 30,2025 . May 30 olscounted the $30,000 note at a local bank, The bank's discount rate is 9h. The note was discounted without recourst ond the sale coiteria are net. June 30 5old merchandise to the Blankenship. Company for 520,000 . Teris of the-sale ace 2/10, n/3a. Heldan wses the gross eethod to account for cash discounts. July it the Blankenship coopsny paid its account In full, August 31 Sold stoek in a nonpublie coepany whth a book value of $5,300 and atcepted a 36 , aee nonlaterest-bearied note ith a discoont rate of 9%. The 56 , doo payment Is dut on february 25, 2025. The stock has no ready market ralue. December 31 Weldon estiestes that the allowance for lineollectible accounts ihould have a balance in it at year-end equal to js of the gross accounks recelvable bolance of 1970,090 . The allowance bad a balance of $20,000 at the start of 2024 . Requirec: 18. 2. Prepare jounti. entries for each of the above transactions and additional yeat-end adjusting entries indicatedi. Note: If no entry is required for a tronsection/event, select "No journal entry required" in the first account field. Do not round intermediate calculations and round your finel onswers to neerest whole dolioc