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 Accaunts Payable-Boden.) 1 Purchased merchandise from Boden Company for $6,800 under credit terms of 2/15, n/30, FO8 shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $950 under credit teras of 2/10, n/60, FO8 shipping point, invoice dated July 2. The merchandise had cost $567. 3 Paid $120 cash for freight charges on the purchase of July 1. Sold mer 9 Purchased merchandise from Leight Co. for $2,400 under credit terms of 2/15, n/60, FOB destination, invoice dated July 9. 11 Received a $400 credit memorandum from Leight Co. for the return of part of the merchandise purchased on July 9. 12 Received 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 merchandise that cost $1,0ee to Art Co. for $1,see under credit terms of 2/15, n/60, FOB shipping point, invoice dated July 19. 21 Issued a $250 credit memorandum to Art Co. for an allowance on goods sold on July 19. 24 Paid Leight Co. the balance due, net of discount. 30 Received the balance due from Art Co. for the invoice dated July 19, net of discount. 31 Sold merchandise that cost dated July 31. July that had cost $2,100 for $2,5ee cash. ,680 to Creek Co. for $7,200 under credit terms of 2/10, n/60, FOB shipping point, invoice View transaction list Journal entry worksheet 2 3 4 5 6 7 8 17 21 Issued a $250 credit memorandum to Art Co. for an allowance on goods sold on July 19. 24 Paid Leight Co. the balance due, net of discount. 30 Received the balance due from Art Co. for the invoice dated July 19, net of discount. 31 Sold merchandise that cost $5,600 to Creek Co. for $7,200 under credit terms of 2/10, n/60, FOB shipping point, i dated July 31. View transaction list Journal entry worksheet 2 3 4 5 6 7 8 17 Purchased merchandise from Boden Company for $6,800 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1 Note: Enter debits before credits. Date General Journal Debit Credit July 01 Clear entry View general journal Record entry