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 fron Boden company for $6,300 under credit terns of 2/15, 1/30, po shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $950 under credit terns of 2/10, 1/60, po shipping point, Invoice dated July 2. The merchandise had cost $525. 3 paid $120 cash for freight charges on the purchase of July 1. # Sold merchandise that had cost $1,600 for $2,000 cash. 9 Purchased merchandise from Leight Co. for $2,900 under credit terns of 2/15, 1/60, FOB destination, invoice dated Joly 9. 11 Received a $900 credit memorandun fron 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 sola merchandise that cont $1,000 to Art Co. for $1,500 under credit terns of 2/15, 1/6, ron shipping point, invoice dated July 19. 21 Issued a $250 credit memorandum to let Co. for as allowance on goods sold on July 19. 24 Paid Leight Co. the balance due, net of discount. 30 Received the balance de from Art Co. for the invoice dated July 19, net of discount. 31 Sold nerchandise that cost $5.100 to Creek Co. for $7,000 under credit terns of 1/10, n/60. FOR shipping point. invoice dated July 31. View transactionist Journal entry worksheet Purchased merchandise from Boden Company for $6.300 under credit terms of 2/15, 30, TOB soping point, invoice dated July 1 Date Den View transaction list Journal entry worksheet