Prepare journal entries to record the following merchandising transactions of Blink Company, which applies the perpetual inventory system. July 1 Purchased merchandise from Boden Company for $6,000 under credit term 1/15, n/30, FOB Shipping Point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $500. 3 Paid $125 cash for freight charges on the purchase of July 1. 8 Sold merchandise that had cost $1, 300 for $1, 700 on account, Credit terms 2/10, n/30. 9 Purchased merchandise from Leight Co. for $2, 200 under credit terms of 2/15, n/60. FOB destination, invoice dated July 9. 11 Received a $200 credit memorandum from Leight Co. for the return of pan of the merchandise purchased on July 9. 12 Received the balance due from Creek Co. for the invoice dated July 2, less discount. 16 Paid the balance due to Boden Company within the discount period. 19 Sold merchandise that cost $800 to Art Co. for $1, 200 under credit terms of 2/15, n/60. FOB shipping point, invoice dated July 19. 21 Issued a $200 credit memorandum to Art. Co. for an allowance on goods sold on July 19. 24 Paid height Co. the balance due after deducting the discount. 30 Received the balance due from Art. Co. for the invoice dated July 19, net of discount. 31 Sold merchandise that cost $4, 800 to Creek Co. for $7,000 under credit terms of 2/10, n/60. FOB shipping point, invoice dated July 31