Prepare journal entries to record the following merchandising transactions of Cabelas, 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 PayableBoden.)

July		1		Purchased merchandise from Boden Company for $6,600 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1.
		2		Sold merchandise to Creek Co. for $1,000 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $550.
		3		Paid $135 cash for freight charges on the purchase of July 1.
		8		Sold merchandise that had cost $1,900 for $2,300 cash.
		9		Purchased merchandise from Leight Co. for $2,600 under credit terms of 2/15, n/60, FOB destination, invoice dated July 9.
		11		Received a $600 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 $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 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 $5,400 to Creek Co. for $7,400 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 31.

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 Doden Company for $6,600 under credit terms of 2/15, n/30, FOB shipping point invoice dated July 1. 25 points 2 Sold merchandise to creek co. for S1,000 under credit terms of 2/10, n/60, POB shipping point, invoice dated July 2. The rerchandise had cost $550 3 Paid $135 cash for freight charges on the purchase of July 1 l Sold merchandise that had cost $1,900 for $2,300 cash 02:58:34 9 Purchased merchandise from Leight Co. for $2,600 under credit terms of 2/15, n/60, FOD destination, invoice dated July 9 11 Received a $600 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 balanc due to Boden 19 Sold merchandise that cost $800 to Art Co. far $1,200 under credit terms of 2/15, n/60, FOB shipping paint, Company within the discount period 1 invoice dated July 19 21 Issued a $200 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 $5,400 to Creek Co. for $7,400 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 31 View transaction list Journal entry worksheet 123 4 5 678 17 Purchased merchandise from Boden Company for $6,600 under credit terms of 2/15, n/30, FOB shipping point, invaice dated July 1