Weldon Corporation's fiscal year ends December 31. The following is a list of transactlons Involving recelvables that occurred durling 2024: March 17 Accounts receivable of $3,469 were written off as uncollectible. The corpany uses the allowance method. 30,2025. and the sale criteria are net. method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. discount rate of 8x. The $8,490 paynent is due on February 28,2025 . The stock has no ready market value. the gross accounts recelvable balance of $960,000. The allowance had a balance of $29,009 at the $ tart of 2024 . Required: 1\& 2 Prepare Journal entrles for each of the above transactions and additional year-end adjusting entrles indicated. Note: If no entry is required for a transaction/event, select "No Journal entry required" in the first account field. Do not round intermedlate calculations and round your final answers to nearest whole dollar. Weldon Corporation's fiscal year ends December 31. The following is a list of transactions Involving recelvables that occurred durlng 2024: March 17 Accounts receivable of $3,469 were written off as uncollectible. The conpany uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7% to be paid on March 30,2025. May 30 Discounted the $39,690 note at a local bank. The bank's discount rate is 8%. The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Conpany for $29,600. Terns of the sale are 2/10, 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 noripublic company with a book value of $6,700 and accepted a $8,469 noninterest-bearing note with a discount rate of gx. The $8,490 paynent is due on February 28,2925 . 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 3% of the gross accounts receivable balance of $960,000. The allowance had a balance of $29,090 at the start of 2024 . Required: 1 \& 2 Prepare journal entrles for each of the above transactions and additional year-end adjusting entrles indicated. Note: If no entry is required for a transaction/event, select "No Journal entry required" in the first account field. Do not round Intermedlate calculations and round your final answers to nearest whole dollar. Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving recelvables that occurred durling 2024: March 17 Accounts receivable of $3,460 were written off as uncollectible. The conpany uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7x to be paid on March 30,2025 . May 30 Discounted the $39,690 note at a local bank. The bank's discount rate is 85 . The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Conpany for $29,690. Terns of the sale are 2/10, n/so. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $6,700 and accepted a $8,409 noninterest-bearing note with a discount rate of ax. The $8,490 paynent is due on February 28,2025 . 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 3% of the gross accounts recelvable balance of $960,000. The allowance had a balance of $29,009 at the start of 2024 . Required: 1\& 2 Prepare journal entrles for each of the above transactions and additional year-end adjusting entrles indicated. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermedlate calculations and round your final answers to nearest whole dollar. Journal entry worksheet 3456789 Note: Enter debits before credits. Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving recelvables that occurred durlng 2024: March 17 Accounts receivable of $3,469 were written off as uncollectible. The company uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7x to be paid on March 30,2925. May 30 Discounted the $39,680 note at a local bank. The bank's discount rate is 85 . The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Conpany for $29,680. Terns of the sale are 2/10, n/30. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $6,700 and accepted a $8,400 noninterest-bearing note with a discount rate of 8x. The $8,490 paynent is due on February 28,2925 . 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 3% of the gross accounts receivable balance of $960,000. The allowance had a balance of $29,600 at the start of 2024 . Required: 1 \& 2 Prepare journal entrles for each of the above transactlons and additional yearend adjusting entrles indicated. Note: 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. Weldon Corporation's fiscal year ends December 31. The following is a list of transactlons Involving recelvables that occurred during 2024: March 17 Accounts receivable of $3,400 were written off as uncollectible. The company uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7% to be paid on March 30,2025. May 30 Discounted the $39,600 note at a local bank. The bank's discount rate is 8x. The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Conpany for $29,680. Terns of the sale are 2/10, n/30. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $6,700 and accepted a $8,400 noninterest-bearing note with a discount rate of gx. The $8,490 paynent is due on February 28,2025 . 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 3% of the gross accounts receivable balance of $960,000. The allowance had a balance of $29,680 at the $ tart of 2024 . Required: 1 \& 2 Prepare journal entrles for each of the above transactions and additional year-end adjusting entrles indicated. Note: 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. Journal entry worksheet Sold merchandise to the Blankenship Company for $29,000. Terms of the sale are 2/10,n/30. Weldon uses the gross method to account for cash discounts. Note: Enter debits before credits. 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 $3,460 were written off as uncollectible. The company uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7x to be paid on March 30,2925. May 30 Discounted the $39,680 note at a local bank. The bank's discount rate is 8%. The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Conpany for $29,690. Terns of the sale are 2/10, n/so. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $6,700 and accepted a $8,460 noninterest-bearing note with a discount rate of 8x. The $8,490 paynent is due on February 28,2925 . 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 3% of the gross accounts receivable balance of $960,000. The allowance had a balance of $29,080 at the start of 2024 . Required: 1\& 2 Prepare Journal entrles for each of the above transactions and additional year-end adjusting entrles Indicated. Note: 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. Weldon Corporation's fiscal year ends December 31. The following is a list of transactlons Involving recelvables that occurred during 2024: March 17 Accounts receivable of $3,409 were written off as uncollectible. The company uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7% to be paid on March 30,2025. May 30 Discounted the $39,690 note at a local bank. The bank's discount rate is 85 . The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Conpany for $29,600. Terns of the sale are 2/10, n/30. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $6,700 and accepted a $8,409 noninterest-bearing note with a discount rate of gx. The $8,490 paynent is due on February 28,2025 . 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 3% of the gross accounts recelvable balance of $960,000. The allowance had a balance of $29,609 at the start of 2024 . Required: 1\& 2 Prepare Journal entrles for each of the above transactlons and additional yearend adjusting entrles indicated. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermedlate calculations and round your final answers to nearest whole dollar. Journal entry worksheet Weldon Corporation's fiscal year ends December 31. The following is a list of transactions Involving recelvables that occurred durlng 2024: March 17 Accounts receivable of \$3,469 were written off as uncollectible. The company uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7% to be paid on March 30,2025. May 30 Discounted the $39,690 note at a local bank. The bank's discount rate is 8%. The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Company for $29,69. Terns of the sale are 2/10, n/30. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $6,700 and accepted a $8,400 noninterest-bearing note with a discount rate of 8x. The $8,490 paynent is due on February 28,2025 . 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 3% of the gross accounts receivable balance of $960,000. The allowance had a balance of $29,000 at the start of 2024 . Required: 1\& 2 Prepare journal entries for each of the above transactlons and additional yearend adjusting entrles indicated. Note: 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. Nate: Enter debits before credits. Weldon Corporation's fiscal year ends December 31. The following is a list of transactlons Involving recelvables that occurred durling 2024: March 17 Accounts receivable of $3,469 were written off as uncollectible. The corpany uses the allowance method. 30,2025. and the sale criteria are net. method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. discount rate of 8x. The $8,490 paynent is due on February 28,2025 . The stock has no ready market value. the gross accounts recelvable balance of $960,000. The allowance had a balance of $29,009 at the $ tart of 2024 . Required: 1\& 2 Prepare Journal entrles for each of the above transactions and additional year-end adjusting entrles indicated. Note: If no entry is required for a transaction/event, select "No Journal entry required" in the first account field. Do not round intermedlate calculations and round your final answers to nearest whole dollar. Weldon Corporation's fiscal year ends December 31. The following is a list of transactions Involving recelvables that occurred durlng 2024: March 17 Accounts receivable of $3,469 were written off as uncollectible. The conpany uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7% to be paid on March 30,2025. May 30 Discounted the $39,690 note at a local bank. The bank's discount rate is 8%. The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Conpany for $29,600. Terns of the sale are 2/10, 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 noripublic company with a book value of $6,700 and accepted a $8,469 noninterest-bearing note with a discount rate of gx. The $8,490 paynent is due on February 28,2925 . 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 3% of the gross accounts receivable balance of $960,000. The allowance had a balance of $29,090 at the start of 2024 . Required: 1 \& 2 Prepare journal entrles for each of the above transactions and additional year-end adjusting entrles indicated. Note: If no entry is required for a transaction/event, select "No Journal entry required" in the first account field. Do not round Intermedlate calculations and round your final answers to nearest whole dollar. Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving recelvables that occurred durling 2024: March 17 Accounts receivable of $3,460 were written off as uncollectible. The conpany uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7x to be paid on March 30,2025 . May 30 Discounted the $39,690 note at a local bank. The bank's discount rate is 85 . The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Conpany for $29,690. Terns of the sale are 2/10, n/so. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $6,700 and accepted a $8,409 noninterest-bearing note with a discount rate of ax. The $8,490 paynent is due on February 28,2025 . 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 3% of the gross accounts recelvable balance of $960,000. The allowance had a balance of $29,009 at the start of 2024 . Required: 1\& 2 Prepare journal entrles for each of the above transactions and additional year-end adjusting entrles indicated. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermedlate calculations and round your final answers to nearest whole dollar. Journal entry worksheet 3456789 Note: Enter debits before credits. Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving recelvables that occurred durlng 2024: March 17 Accounts receivable of $3,469 were written off as uncollectible. The company uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7x to be paid on March 30,2925. May 30 Discounted the $39,680 note at a local bank. The bank's discount rate is 85 . The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Conpany for $29,680. Terns of the sale are 2/10, n/30. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $6,700 and accepted a $8,400 noninterest-bearing note with a discount rate of 8x. The $8,490 paynent is due on February 28,2925 . 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 3% of the gross accounts receivable balance of $960,000. The allowance had a balance of $29,600 at the start of 2024 . Required: 1 \& 2 Prepare journal entrles for each of the above transactlons and additional yearend adjusting entrles indicated. Note: 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. Weldon Corporation's fiscal year ends December 31. The following is a list of transactlons Involving recelvables that occurred during 2024: March 17 Accounts receivable of $3,400 were written off as uncollectible. The company uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7% to be paid on March 30,2025. May 30 Discounted the $39,600 note at a local bank. The bank's discount rate is 8x. The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Conpany for $29,680. Terns of the sale are 2/10, n/30. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $6,700 and accepted a $8,400 noninterest-bearing note with a discount rate of gx. The $8,490 paynent is due on February 28,2025 . 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 3% of the gross accounts receivable balance of $960,000. The allowance had a balance of $29,680 at the $ tart of 2024 . Required: 1 \& 2 Prepare journal entrles for each of the above transactions and additional year-end adjusting entrles indicated. Note: 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. Journal entry worksheet Sold merchandise to the Blankenship Company for $29,000. Terms of the sale are 2/10,n/30. Weldon uses the gross method to account for cash discounts. Note: Enter debits before credits. 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 $3,460 were written off as uncollectible. The company uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7x to be paid on March 30,2925. May 30 Discounted the $39,680 note at a local bank. The bank's discount rate is 8%. The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Conpany for $29,690. Terns of the sale are 2/10, n/so. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $6,700 and accepted a $8,460 noninterest-bearing note with a discount rate of 8x. The $8,490 paynent is due on February 28,2925 . 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 3% of the gross accounts receivable balance of $960,000. The allowance had a balance of $29,080 at the start of 2024 . Required: 1\& 2 Prepare Journal entrles for each of the above transactions and additional year-end adjusting entrles Indicated. Note: 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. Weldon Corporation's fiscal year ends December 31. The following is a list of transactlons Involving recelvables that occurred during 2024: March 17 Accounts receivable of $3,409 were written off as uncollectible. The company uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7% to be paid on March 30,2025. May 30 Discounted the $39,690 note at a local bank. The bank's discount rate is 85 . The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Conpany for $29,600. Terns of the sale are 2/10, n/30. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $6,700 and accepted a $8,409 noninterest-bearing note with a discount rate of gx. The $8,490 paynent is due on February 28,2025 . 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 3% of the gross accounts recelvable balance of $960,000. The allowance had a balance of $29,609 at the start of 2024 . Required: 1\& 2 Prepare Journal entrles for each of the above transactlons and additional yearend adjusting entrles indicated. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermedlate calculations and round your final answers to nearest whole dollar. Journal entry worksheet Weldon Corporation's fiscal year ends December 31. The following is a list of transactions Involving recelvables that occurred durlng 2024: March 17 Accounts receivable of \$3,469 were written off as uncollectible. The company uses the allowance method. March 30 Loaned an officer of the company $39,000 and received a note requiring principal and interest at 7% to be paid on March 30,2025. May 30 Discounted the $39,690 note at a local bank. The bank's discount rate is 8%. The note was discounted without recourse and the sale criteria are net. June 30 Sold nerchandise to the Blankenship Company for $29,69. Terns of the sale are 2/10, n/30. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Conpany paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $6,700 and accepted a $8,400 noninterest-bearing note with a discount rate of 8x. The $8,490 paynent is due on February 28,2025 . 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 3% of the gross accounts receivable balance of $960,000. The allowance had a balance of $29,000 at the start of 2024 . Required: 1\& 2 Prepare journal entries for each of the above transactlons and additional yearend adjusting entrles indicated. Note: 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. Nate: Enter debits before credits