Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. Juty 1 Purchased merchandise fron Boden Company for $6,600 under credit terms of 2/15,n/30, F0B shipping point, invoice dated July 1 . Juty 2 Sold merchandise to Creek Conpany for $950 under credit terms of 2/10,n/60, F0B shipping point, invoice dated July 2. The merchandise had cost $550. Juty 3 Paid $120 cash for freight charges on the purchase of July 1. July 8 sold merchandise that had cost $1,900 for $2,300 cash. Juty 9 Purchased nerchandise fron Leight Company for $3,080 under credit teras of 2/15,n/60,F0B destination, invoice dated Juty 9 . July 11 Returned $1,060 of merchandise purchased on July 9 from Leight Company and debited its account payable for that anount. July 12 Received the batance due from Creek Conpany for the invoice dated July 2, net of the discount. July 16 Paid the balance due to Boden Company within the discount period. July 19 Sold nerchandise that cost $800 to Art Company for $1,200 under credit terns of 2/15,n/60, F0B shipping point, invoice dated July 19. July 21 Gave a price reduction (allowance) of $200 to Art Company for merchandise sold on July 19 and credited Art's accounts receivable for that anount. July 24 Paid Leight Company the balance due, net of discount. July 30 Received the balance due fron Art Company for the invoice dated July 19 , net of discount. July 31 Sold nerchandise that cost $5,400 to Creek Company for $7,300 under credit terns of 2/10, n/6e, FOB shipping point, invoice dated July 31 . July 24 Paid Leight company the balance due, net of discount. Juty 30 Received the balance due from Art Company for the invoice dated July 19 , net of discount. Juty 31 Sold merchandise that cost $5,400 to Creek Company for $7,300 under credit terms of 2/10, point, invoice dated July 31 . Journal entry worksheet 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