You can switch the transponder to feed off of Bus #2 using the 1-2 switch at the bottom. Other than that I don't think you can do much about it in that case. Also I'm not sure what exactly fails with the "AC Electronic 1" entry. Tried consulting this schematic from http://www.b737.org.uk/ but there are some issues I couldn't explain. This failure seems to affect the "No1 EL. 115v" box in the lower left, as GWPS and the Captain's altimeter failed with that "AC Eletronic 1" failure.
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