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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 $1,700 were written off as uncollectible. The conpany uses the allowance nethod. March 30 Loaned an officer of the company $20,000 and received a note requiring principal and interest at 78 to be paid on March. 30, 2025 : May 30 Discounted the $20,000 note at a local bank. The bank's discount rate is gx, The note was discounted without recourse and the sale criteria are met. June 30 Sold merchandise to the Blankenship Cospany for $12,000. Terms of the sale are 2/10, D/s0. Weldon uses the gross method to account for cash disceunts. July 8 The Blankenship Coepany paid its account in full. August 31 sold stock in a nonpublic conpany with a book value of $5, eos and accepted a \$6,e09 noninterest-bearing note. with a discount rate of 8%. The $6,000 payment is due on February 23,2025 . The stock has no ready market value. Deceaber 31 Weldon estimates that the allowance for uncollectible accounts should have a balance in it at year-end equal to 2 of the eross accounts receivable balance of $700,000. The allowence had a balance of $12,000 at the start of 2024 . Required: 1\& 2. Prepare journal entries for each of the above transactions and additional year-end adjusting entries 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. \begin{tabular}{|c|c|c|c|c|c|} \hline & & Noles recelvablo & 0 & & \\ \hline \multirow[t]{2}{*}{5} & June 30,2024 & Accounts receivable & & 12,0000 & \\ \hline & & Sales revenve & & & 12,000 \\ \hline \multirow[t]{3}{*}{6} & July 08,2024 & Cash & 0 & 11,760 & \\ \hline & & Salos discounts & & 2400 & \\ \hline & & Accounts receivable & 0 & & 12,0000 \\ \hline \multirow[t]{4}{*}{7} & August 31,2024 & Notes receivable & 0 & 6,0000 & \\ \hline & & Discount on notes toceivable & 0 & & \\ \hline & & Invostments & 0 & & 5,0000 \\ \hline & & Gain on saie of investments & 0 & & \\ \hline \multirow[t]{2}{*}{B} & December 31,202 & Bad debt expenso & & 14,000 & \\ \hline & & Allowance for uncollectible accounts & & & 14,000 \\ \hline \multirow[t]{2}{*}{9} & December 31,202 & Discount on notes tecenvable & & x & \\ \hline & & Interest revenue & & & \\ \hline \end{tabular}