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Journal entry worksheet Loaned an officer of the company $30,000 and received a note requiring principal and interest at 6% to be paid on March 30, 2025. Note: Enter debits before credits. Journal entry worksheet 6 Record the cash received on the discounted note. Note: Enter debits before credits. Journal entry worksheet 1 Sold merchandise to the Blankenship Company for $22,000. Terms of the sale are 2/10,n/30. Weldon uses the gross method to account for cash discounts. Note: Enter debits before credits. Journal entry worksheet 1 5 Note: Enter debits before credits. Journal entry worksheet To record the accrual of interest earned on note receivable. Note: Enter debits before credits. Journal entry worksheet The Blankenship Company paid its account in full. Note: Enter debits before credits. Journal entry worksheet Record the accrued interest revenue on the discounted note. Note: Enter debits before credits. Journal entry worksheet Sold stock with a book value of $6,000 and accepted a $7,800 noninterestbearing note with a discount rate of 7% due on February 28, 2025. Note: Enter debits before credits. March 17 Accounts receivable of $2,700 were written off as uncollectible. The company uses the allowance method. March 30 Loaned an officer of the company $30,000 and received a note requiring principal and interest at 6% to be paid on March 30, 2025. May 30 Discounted the $30,000 note at a local bank. The bank's discount rate is 7%. The note was discounted without recourse and the sale criteria are met. June 30 Sold merchandise to the Blankenship Company for $22,000. Terms 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 nonpublic company with a book value of $6,000 and accepted a $7,800 noninterest-bearing note with a discount rate of 78 . The $7,800 payment 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 $890,000. The allowance had a balance of $22,000 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. Journal entry worksheet 23456789> Accounts receivable of $2,700 were written off as uncollectible. The company uses the allowance method. Note: Enter debits before credits

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