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 $2,300 were written off as uncollectible. The company uses the allowance method. 30 Loaned an officer of the company $30,000 and received a note requiring principal and interest at 5 to be paid on March 30, 2022. May 30 Discounted the $30,000 note at a local bank. The bank's discount rate is 6. The note was discounted without June 30 Sold merchandise to the Blankenship Company for $18,900. Terms of the sate are 2/10, 1/30. 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 $5,600 and accepted a $6,600 non interest-bearing note with a discount rate of 6%. The $6,600 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 2% of the gross accounts receivable balance of $850,000. The allowance had a balance of $18,008 at the start of 2021