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 Joly 1 Purchased merchandise from Boden Company for $5.600 under tredit terus of 1/15, W30, 08 Shipping point, nice dated July 1. Sold merchandise to Creek co for $900 under credit teres of 210./60, roll shipping point. Invoice dated July 2. The berchandise had cost $500 Paid $125 cash for freight charges on the purchase of July 1. Sold merchandise that had cost $1,100 for $1,700 cash 9 Purchased merchandise from leient co. for $2,200 under credit terms of 2/15. /se. Fon destination, Invoice dated July 11 Returned $200 of merchandise parchased on July 9 from echt co.. and debated its account payable for that count 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 $100 to Art Co. for $1,200 under credit terms of 2/15, 1/60, FOB shipping point. Invoice dated July 19, 21 Gave price reduction allowance) of $100 to Art Co for merchandise sold on July 19, and credited Art's accounts receivable for that amount. 24 Paid leicht Co. the balance due, het of discount 30 Received the balance due from Art Co. for the invoice dated July 19, net of discount. 31 Sold merchandise that cost $4,000 to Creek Co for $7,000 under credit terms of 2/10, 1/60, FOB shipping point, Invoice dated July 31 View transaction list Journal entry worksheet 1 2 5 6 7 B 17 > Purchased merchandise from Boden Company for $6,000 under credit terms of 1/15, 1/30, FOB shipping point, Invoice dated July 1. Notter debts before edits General Journal Debit Credit July 01 Record entry Clear entry View general journal