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 $2,800 were written off as uncollectible. The company uses the allowance method 30 Loaned an officer of the company $33,000 and received a note requiring principal and interest at 8% to be paid on March 30, 2019. and the sale criteria are met. to account for cash discounts. May 30 Discounted the $33,000 note at a local bank. The bank's discount rate is 9%. The note was discounted without recourse June 30 Sold merchandise to the Blankenship Company for $23,000. Terms of the sale are 3/10, n/30. Weldon uses the gross method July 8 The Blankenship Company paid its account in full. Aug. 31 Sold stock in a nonpublic company with a book value of $6,100 and accepted a $7,600 noninterest-bearing note with a discount rate of 9%. The $7,600 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 $810,000 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.) View transaction list Journal entry worksheet |1|2 3 4 5 6 7