Question: Please help with the 9 journal entries below, thanks! Weldon Corporation's scal year ends December 31. The following is a list of transactions involving receivables

Please help with the 9 journal entries below, thanks!

Please help with the 9 journal entries below, thanks! Weldon Corporation's scal

Weldon Corporation's scal year ends December 31. The following is a list of transactions involving receivables that occurred during 2018: Mar. 17 Accounts receivable of 52,400 were written off as uncollectible. The company uses the allowance method. 30 Loaned an officer of the company $27,000 and received a note requiring principal and interest at 7% to be paid on March 30, 2019. May 30 Discounted the $27,000 note at a local bank. The bank's discount rate is 8%. The note was discounted without recourse and the sale criteria are met. June 30 Sold merchandise to the Blankenship Company for $19,000. Terms of the sale are 3/10, nf30. Weldon uses the gross July method to account for cash discounts. 8 The Blankenship Company paid its account in full. Aug. 31 Bold Stock in a nonpublic company with a book value of $5,700 and accepted a $7,200 noninterestbearing note with a discount rate of 8%. The $7,200 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 $770,000. Required: 1 8: 2. Prepare journal entries for each ofthe above transactions and additional yearend 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 tra S ctiom'event, select "Nojournal entry required" in the rst account fieldJ View transaction list Journal entry worksheet ( 1 2 3 4 5 6 7 8 9 > uses the allowance method. Accounts receivable of $2,400 were written off as uncollectible. The company

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