Check my work 1 Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and The gross method July Purchased werchandise froBodes Com for $6.000der Credit terms of 215,30, Foe shippine point, volte dated July Moly sold handle to Creek Company for under credit ters of 7/10. / For shipping point foce dated July 2. The host. July 3roid 5119 cash for freight changes on the purchase of July 1. July Sold chaise that halost $1.00 for $1.00 cash July 9 Purchased merchandise front Company for $2.1 undor credit term of 2/15, 1/00, 100 destination, invoice dated July ay 11 turned 5.0 of merchandise purchased on July 9 troe Leight Company and debited its account payable for that runt. y 1 Received the balance de free Creek company for the invoice te naty 7, net of the discount July 16 Paid the balance due to toden company within the discount period ly 19 aldaerchandise that cost $1,000 to art copy for $1.500 under credit term of 3/15, W60, shipping point, invoice dated July 1 yer reduction Callance of so to wt con for merchandise seld on July 19 and credited Art's accounts receivable for that count. Sely Puld cont company the balance dut otot discount July received the line from art company for the nice dated ruly 1, net of discount Sly Sold chandise that cost , torreny for $1.200 de credit ters of 2/1, W, roshoping polet, imice dated July 31 View ansaction et Credit Debit 6,000 6.000 Purchased merchandise from Boden Company for $6.000 under credit terms of 2/15, 9/30, FOB shipping point involce dated 1 950 580 Sold marchandise to Creek Comoen for 1950 under Homework i LL ILU CHU July 31 Sold merchandise that cost $4,800 to Creek Company for $7,200 under dated July 31. View transaction list View journal entry worksheet X 1 Purchased merchandise from Boden Company for $6,000 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. ces Sold merchandise to Creek Company for $950 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. 3 Record the cost of merchandise sold, $500. @ Paid $110 cash for freight charges on the purchase of July 1. Record sale of merchandise for $1,700 cash. DARRARE Hinnad on Note : = journal entry has been entered Merchandise inventory 7 July 09 Merchandise inventory n Saved mework A LAUL UU ... July 31 sold merchandise that cost $4,890 to Creek Company for $7,200 un dated July 31. View transaction list View journal entry worksheet X 6 Record cost of merchandise sold, $1,300. Purchased merchandise from Leight Company for $2,300 under credit terms of 2/15, n/60, FOB destination, invoice dated July 9. 8 Returned $300 of meralimndise purchased on July 9 from Leight Company and debited its account payable for that amount. 9 Received the balance due from Creek Company for the invoice dated July 2, net of the discount. 10 Paid the balance due to Boden Company within the discount period. journal entry has been entered Merchandise inventory Note: ALAT LULU LUMINA MMMMM July 31 Sold merchandise that cost $4,800 to Creek Company for $7,200 una dated July 31. View transaction list View journal entry worksheet X 11 Sold merchandise to Art Company for $1,500 under credit terms of 2/15, n/60, FOB shipping point, invoice dated July 19. 12 Record cost of merchandise sold, $1,000. 13 Gave a price reduction (allowance) of $250 to Art Company for merchandise sold on July 19 and credited Art's accounts receivable for that amount. 19 Paid Leight Company the balance due, net of discount. : 15. Received the balance due from Art Company for the invoice dated July 19, net of discount. 16 Sold merchandise to Creek Company for $7.200 under Note : = journal entry has been entered Merchandise inventory July 09 Merchandise inventory Mode: Fil... Saved ework AREA LL LI ...my July 31 Sold merchandise that cost $4,800 to Creek Company for $7,200 dated July 31. View transaction list View journal entry worksheet X 13 Gave a price reduction (allowance) of $250 to Art Company for merchandise sold on July 19 and credited Art's accounts receivable for that amount. 14 Pald Leight Company the balance due, net of discount. 15 Received the balance due from Art Company for the invoice dated July 19, net of discount. 16 Sold merchandise to Creek Company for $7,200 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 31. 1 Record cost of merchandise sold, $4,800. 2 Note : = journal entry has been entered Merchandise inventory 7 July 09 Merchandise inventory Check my work 1 Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and The gross method July Purchased werchandise froBodes Com for $6.000der Credit terms of 215,30, Foe shippine point, volte dated July Moly sold handle to Creek Company for under credit ters of 7/10. / For shipping point foce dated July 2. The host. July 3roid 5119 cash for freight changes on the purchase of July 1. July Sold chaise that halost $1.00 for $1.00 cash July 9 Purchased merchandise front Company for $2.1 undor credit term of 2/15, 1/00, 100 destination, invoice dated July ay 11 turned 5.0 of merchandise purchased on July 9 troe Leight Company and debited its account payable for that runt. y 1 Received the balance de free Creek company for the invoice te naty 7, net of the discount July 16 Paid the balance due to toden company within the discount period ly 19 aldaerchandise that cost $1,000 to art copy for $1.500 under credit term of 3/15, W60, shipping point, invoice dated July 1 yer reduction Callance of so to wt con for merchandise seld on July 19 and credited Art's accounts receivable for that count. Sely Puld cont company the balance dut otot discount July received the line from art company for the nice dated ruly 1, net of discount Sly Sold chandise that cost , torreny for $1.200 de credit ters of 2/1, W, roshoping polet, imice dated July 31 View ansaction et Credit Debit 6,000 6.000 Purchased merchandise from Boden Company for $6.000 under credit terms of 2/15, 9/30, FOB shipping point involce dated 1 950 580 Sold marchandise to Creek Comoen for 1950 under Homework i LL ILU CHU July 31 Sold merchandise that cost $4,800 to Creek Company for $7,200 under dated July 31. View transaction list View journal entry worksheet X 1 Purchased merchandise from Boden Company for $6,000 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. ces Sold merchandise to Creek Company for $950 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. 3 Record the cost of merchandise sold, $500. @ Paid $110 cash for freight charges on the purchase of July 1. Record sale of merchandise for $1,700 cash. DARRARE Hinnad on Note : = journal entry has been entered Merchandise inventory 7 July 09 Merchandise inventory n Saved mework A LAUL UU ... July 31 sold merchandise that cost $4,890 to Creek Company for $7,200 un dated July 31. View transaction list View journal entry worksheet X 6 Record cost of merchandise sold, $1,300. Purchased merchandise from Leight Company for $2,300 under credit terms of 2/15, n/60, FOB destination, invoice dated July 9. 8 Returned $300 of meralimndise purchased on July 9 from Leight Company and debited its account payable for that amount. 9 Received the balance due from Creek Company for the invoice dated July 2, net of the discount. 10 Paid the balance due to Boden Company within the discount period. journal entry has been entered Merchandise inventory Note: ALAT LULU LUMINA MMMMM July 31 Sold merchandise that cost $4,800 to Creek Company for $7,200 una dated July 31. View transaction list View journal entry worksheet X 11 Sold merchandise to Art Company for $1,500 under credit terms of 2/15, n/60, FOB shipping point, invoice dated July 19. 12 Record cost of merchandise sold, $1,000. 13 Gave a price reduction (allowance) of $250 to Art Company for merchandise sold on July 19 and credited Art's accounts receivable for that amount. 19 Paid Leight Company the balance due, net of discount. : 15. Received the balance due from Art Company for the invoice dated July 19, net of discount. 16 Sold merchandise to Creek Company for $7.200 under Note : = journal entry has been entered Merchandise inventory July 09 Merchandise inventory Mode: Fil... Saved ework AREA LL LI ...my July 31 Sold merchandise that cost $4,800 to Creek Company for $7,200 dated July 31. View transaction list View journal entry worksheet X 13 Gave a price reduction (allowance) of $250 to Art Company for merchandise sold on July 19 and credited Art's accounts receivable for that amount. 14 Pald Leight Company the balance due, net of discount. 15 Received the balance due from Art Company for the invoice dated July 19, net of discount. 16 Sold merchandise to Creek Company for $7,200 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 31. 1 Record cost of merchandise sold, $4,800. 2 Note : = journal entry has been entered Merchandise inventory 7 July 09 Merchandise inventory