Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inveritory system and the gross method. July 1 Turchased merchandise from Boden Company for $6,600 under eredit terms of 2/15, n/30, Fos shipping point, invoice dated July 1. July 2 sold serchandise to Creek Company for $950 under eredit terns of 2/10, n/60, ros shipping point, involee dated July 2. The merehandise had cost \$550. July 3 paid $115 eash for freight charges on the purchase of July 1. July 8 sold nerchandise that had cost $1,900 for $2,300 cash. July 9 purchased nerebasdile from teight Conpany for $2,700 under credit terns of 2/15, n/60, Fos destination, invoice dated Jaly 9 . July 11 Returned $700 of merchandise purchased on July 9 from Leight Company and deblted fts account payable for that anount. July 12 Recelved the balance due fron Creek Company for tho invoice dated Jaly 2, net of the discoust. July 16 paid the balance due to Boden Company within the discount period. July 19 sold morehandise that cost $1,000 to Art company for $1,500 under credit terms of 2/15,n/60, Fos shipping point, involce dated July 19. July 21 Cave a price reduction (allowance) of $250 to art Conpany for merchandise sold on July 19 and eredited Art's accounts receivable for that amount. July 24 faid Leight Coepany the balance due, net of discount. July 30 Received the balance due froe Art Company for the involee dated July 19 , net of discount. July 31 sold merchandise that cost $5,400 to Creek Company for $6,800 under credit terms of 2/10, n/60, Fos whipping point, invoice dated Jaly 31. Purchased merchandise from Boden Company for $6,600 under credit terms of 2/15,n/30,FOB shipping point, invoice dated July 1 . Note: Enter debits before credits