Judy Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. (Hint It will help to identify each receivable and payable for example, record the purchase on July 1 in Accounts Payable-Boden) July 1 Purchased merchandise from Boden Company for $7,000 under credit terns of 2/15, 1/30, F8 Shipping point, Invoice dated Sold merchandise to Creek Co. for $1,000 under credit term of 2/10, , Foo shipping point, Invoice dated July 2. The Pald $125 cash for freight charges on the purchase of July 1. Purchased merchandise from Leight Co. for 52,50 under credit teres of 2/15, 1/6, Fos destination, invoice dated July 9. 11 Received $500 credit morandum from eight Co. for the return of part of the merchandise purchased on July 9. 12 deceived the balance due from Creek Co. for the invoice dated July 2, net of the discount. 16 Paid the balance due to Boden Company within the discount period. 19 sold serchandise that cost $1,000 to Art Co. for $1,500 under credit terms of 2/15, 1/60, FOB shipping point, no ce dated July 19 21 Issued a $250 credit randon to Art Co. for an allowance on goods sold on July 19. 24 Pald Leight Co the balance dut, net of discount 3 Beceved the balance de fromart Co. for the voice dated July 19, net of discount 11 Sold merchandise that cost $5,000 to Creek Co. for 37,100 under credit ters of 2/10, 1/60, FB shipping point, Emce No Answer is not complete General Journal Merchandise Inventory Accounts payable-Boden 1 July 01 Debat Credit 7.000 OO 7.000 2 July 02 Account Check Sales 1.000 1.000 3 0000 Cost of goods sold Merchandisinventory 583 583 Prev 1 of 5 Next > Template upe here to search o W DELL F2 F3 F4 F5 F6 0 F7 00 F9 F10 UD a $ # 3 %