11 Check my work 1.66 points Skipped eBook Print References Problem 4-1A (Algo) Preparing journal entries for merchandising activities LO P1, P2 Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. July 1 Purchased merchandise from Boden Company for $6,400 under credit terms of 2/15, n/38, FOB shipping point, invoice dated July 1. July 2 Sold merchandise to Creek Company for $950 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $533. July 3 Paid $140 cash for freight charges on the purchase of July 1. July 8 Sold merchandise that had cost $1,700 for $2,100 cash. July 9 Purchased merchandise from Leight Company for $2,300 under credit terms of 2/15, n/60, FOB destination, invoice dated July 9. July 11 Returned $300 of merchandise purchased on July 9 from Leight Company and debited its account payable for that amount. July 12 Received the balance due from Creek Company for the invoice dated July 2, net of the discount. July 16 Paid the balance due to Boden Company within the discount period. July 19 Sold merchandise that cost $1,200 to Art Company for $1,800 under credit terns of 2/15, n/60, FOB shipping point, invoice dated July 19. July 21 Gave a price reduction (allowance) of $300 to Art Company for merchandise sold on July 19 and credited Art's accounts receivable for that amount. July 24 Paid Leight Company the balance due, net of discount. July 30 Received the balance due from Art Company for the invoice dated July 19, net of discount. July 31 Sold merchandise that cost $5,200 to Creek Company for $7,100 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 31. View transaction list 11 View transaction list 1.66 points Journal entry worksheet < 1 2 3 4 5 6 7 8 17 Skipped Purchased merchandise from Boden Company for $6,400 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. eBook Print Note: Enter debits before credits. References Date July 011 General Journal Debit Credit Record entry Clear entry View general journal Check my work