Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system the gross method. Purchased merchandise from Boden Company for exist6, 200 under credit terms of shipping point, invoice dated 2/15, n/30, FOB shipping point, invoice dated July 1. Sold merchandise to creek Co. For exist900 under credit terms of 2/15, n/30, FOB point, invoice dated July 2. The merchandise had cost exist 517. Paid exist105 cash for freight charges on the purchase of July 1. Sold merchandise that had cost exist1, 500 for exist1, 900 Purchased merchandise from Light Co. For exist2, 300 under credit terms of 2 5, n/60, FOB destination invoice dated July 9 Received a exist300 credit memorandum from Length Co for the return of part of the merchandise purchased on July 9. Received the balance due from Creek Co. for the invoice dated July 2, net of the discount. Paid the balance due discount from creek co for the invoice dated July 2, net of the discount. Paid the balance due to Boden Company within the discount period. Sold merchandise that cost s 1,000 to Art Co. for exist1, 500 under credit terms of 2/15, n/60, FOB shipping point, invoice dated J n allowance on goods sold on July 19. Issued a exist 250 credit memorandum to Art Co. For an allowance on goods sold on July 19. Paid light Co. The balance due, net of discount. Received the balance due from Art Co. For the invoice dated July 19, net of discount. Sold merchandise that cost exist5,000 to creak Co. For exist 7, 200 under credit terms of 2/10, n/16, FOB shipping point, invoice dated july 31