Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving receivables that occurred during 2016 Mar. 17 Accounts receivable of $2,600 were written off as uncollectible. The company uses the allowance method 7% to be paid on March 30, 2017 discounted without recourse and the sale criteria are met Weldon uses the gross method to account for cash discounts 30 Loaned an officer of the company $33,000 and received a note requiring principal and interest at May 30 Discounted the $33,000 note at a local bank. The bank's discount rate is 8%. The note was June 30 Sold merchandise to the Blankenship Company for $21,000. Terms of the sale are 4/10, n/30 July 8 The Blankenship Company paid its account in full Aug. 31 Sold stock in a nonpublic company with a book value of $5,900 and accepted a $6,900 non interest-bearing note with a discount rate of 8%. The $6,900 payment is due on February 28 2017. The stock has no ready market value Bad debt expense is estimated to be 3% of credit sales for the year. Credit sales for 2016 were $790,000 Dec. 31 Required 1. Prepare journal entries for each of the above transactions. (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 listView journal entry worksheet No Date General Journal Debit Credit arch 17, Allowan 2016 Allowance for uncollectible accounts 2,600 Accounts receivable 2,600 March 30 2016 Note receivable 33,000 Cash 33,000 385 3 May 30, 2016 Interest receivable Interest revenue 385 4May 30, 2016Discount on note receivable Accounts receivable Note receivable 5 June 30, 2016 Accounts receivable 21,000 Sales revenue 21,000