Here are your parts
Replacement parts for WHIRLPOOL WED5540SQ0 29"electric Dryer | AppliancePartsPros.comI am assuming that you measured the 240 volts. Many people just measure each side with reference to Neutral and assume they have 240 when in fact they only have 120.
Which thermal fuse did you measure?
The one on the blower is for the motor not the heater.
If you checked the wrong fuse, the thermal cut-off (fuse) for the heat element is Item 9 in section 3. See below MORE INFO on this.
Then the hi-limit thermostat (Item 15 in Section 3) and the main control thermostat (Item 8 in Section 3).
MORE INFO
If it is blown you have to find out what caused it to go.
Note: that sometimes they do just blow on their own but changing it without checking other things is a gamble. I believe richappy (another regular poster on this forum) has done a study on thermostats and found a wide variation of actual trip point and what is specified.
Check the heating coil.
Unplug the unit and both wires to the coil.
Check it with a meter, should be around 12 ohms.
Then check from each side of the coil to the case/frame, both should be infinite ohms (open). If not the coil may have sagged or broken and is touching the case. This can cause it to run on high and the thermostats cannot regulate it so the thermal fuse blows.
If the above is OK then you will also have to replace the hi-limit as it should have regulated the temperature so the fuse did not blow.
You still have to find out why it blew.
Check that the belt is OK.
Check the seals (drum etc) in the unit. The air is pulled over the heating coils, through the drum and pushed out the exhaust. So any large seal leak will pull in room air and the cycling thermostat on the blower will run the unit hot.
Check that the lint filter is not coated with fabric softener residue which greatly reduces air flow.
Check/clean your vent system.
Check/clean the blower wheel.
If all OK you may want to replace the cycling thermostat as it's contacts may not be opening (welded shut).