create general journal

Problem 4-1A (Algo) Preparing journal entries for merchandising activities LO P1, P2 Prepare joumat entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method July 1. nerchandise had cost $517. July 3 Paid $115 cash for freight charges on the purchase of July 1 . July 8 Sold aecchandise that had cost $1,500 for $1,900 cash. July 9 Purchased nerchendise from Lelght Company for $2,500 under credit terns of 2/15, A/60, foo destination, involce dated July 9. July it fieturned 5500 of aerchandise purchased on duly 9 froe Leight coepany and debited its account payable for that asount. July 12 Hecelved the balance due from Creek Company for the involce dated laly 2, net of the discount. July is Paid the belance due to Eaden Company within the discount peried. July 19 sold merchandise that cost $1,000 to Art Comany for $1,500 under credit teras of 2/15, n/60, ros shipping point, invoice dated July 10 July 21 Gave a price reduction (allowance) of s2se to hre company for mecchandise sold on July 19 and credted Art's accounts receivable for that amount. July 24 pald teight canpsny the balance doe, net of discoust. zuly 30 aecelved the baliance due from Art compary for the involce dated July 19, net of discount. dated july 31