Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving receivables that occurred during 2021: Mar. 17 Accounts receivable of $2,000 were written off as uncollectible. The company uses the allowance method. 30 Loaned an officer of the company $24,000 and received a note requiring principal and interest at 8% to be paid on March 30, 2022. May 30 Discounted the $24,000 note at a local bank. The bank's discount rate is 98. The note was discounted without recourse and the sale criteria are met. June 30 Sold merchandise to the Blankenship Company for $15,000. Terms of the sale are 4/10, n/30. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Company paid its account in full. Aug. 31 Sold stock in a nonpublic company with a book value of $5,300 and accepted a $6,400 noninterest-bearing note with a discount rate of 98. The $6,400 payment is due on February 28, 2022. The stock has no ready market value. Dec. 31 Weldon estimates that the allowance for uncollectible accounts should have a balance in it at year-end equal to 3% of the gross accounts receivable balance of $720,000. The allowance had a balance of $15,000 at the start of 2021. 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.) X Answer is not complete. No Date Debit Credit 1 March 17, 2021 General Journal Allowance for uncollectible accounts Accounts receivable 2,000 2 March 30, 2021 24,000 > Notes receivable Cash 24,000 3 May 30, 2021 Interest receivable 320 OO Interest revenue 320 4 May 30, 2021 23,976 334 X Cash Loss on sale of notes receivable Interest revenue Notes receivable OOO 320 24,000 5 5 June 30, 2021 Accounts receivable 15,000 Sales revenue 15,000 6 July 08, 2021 Cash 144,000 X 600 Sales discounts Accounts receivable 15,000 7 6,400 August 31, 2021 Notes receivable Discount on notes receivable Investments 288 5,300 812 Gain on sale of investments 8 X 21,900 X December 31, 202 Bad debt expense Allowance for uncollectible accounts 21,900 X 9 December 31, 202 Notes payable Interest revenue