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 Boden Company for $6,700 under credit terms of 2/15, n/30, POB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $950 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $558. cash for freight charges on the purchase of July 1. 8 Sold merchandise that had cost $2,000 for $2,400 cash. 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 $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 $5,500 to Creek Co. for $7,100 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 31. View transaction list Journal entry worksheet 2 3 4 5 6 7 8 ..... 17 Purchased merchandise from Boden Company for $6,700 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. Journal entry worksheet Purchased merchandise from Boden Company for $6,700 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. Note: Enter debits before credits. General Journal Debit Credit Date July 01 Record entry Clear entry View general journal Journal entry worksheet Sold merchandise to Creek Co. for $950 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. Note: Enter debits before credits. Date General Journal Debit Credit July 02 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the cost of merchandise sold, $558 Note: Enter debits before credits. General Journal Debit Credit Date July 02 Record entry Clear entry View general journal Journal entry worksheet View transaction list Journal entry worksheet View transaction list Journal entry worksheet View transaction list Journal entry worksheet View transaction list Journal entry worksheet ook int Received the balance due from Creek Co. for the invoice dated July 2, net of the discount. ences Note: Enter debits before credits. Date General Journal Debit Credit July 12 Record entry Clear entry View general journal Sy....pdf A View transaction list Journal entry worksheet Sy....pdf ^ View transaction list Journal entry worksheet Journal entry worksheet Sold merchandise to Creek Co. for $7,100 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 31. Note: Enter debits before credits. General Journal Debit Credit Date July 31 Record entry Clear entry View general journal lew transaction list Journal entry worksheet