Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method July 1 Purchased merchandise from Boden Company for $6,000 under credit ter of 1/15, 1/30, on shipping point. invoice dated July 1 July 2 sold merchandise to Creek Company for $900 under credit terns of 3/10, 1/60, ron shipping point, involo dated July 2. The merchandise had cont $500. July 3 Paid $125 cash for freight charges on the purchase of July 1. July 8 Sold merchandise that had cost $1,300 for $1,700 cash. July 9 Purchased merchandise from Leight Company for $2,200 under credit terms of 2/15, 1/60, Pon destination, Involce dated July 9. July 11 Returned $200 of merchandise purchased on July 9 from Leight Company and debited ito account payable for that July 12 Received the balance due fron Creek Company 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 merchandise that cost $800 to Art Company for $1,200 under credit terns of 2/15, 1/60, FOB shipping point. invoice dated July 19. July 21 Gave a price reduction allowance) of $100 to Art Company for chandise sold on July 19 and credited Art's accounts receivable tor that amount. July 24 Paid Leight Company t.be balance due, net of discount. July 10 Received the balance due from Art Company for the invoice dated July 19. net of discount. July 31 sold merchandise that coat $4.800 to Creek Company for $7,000 under credit terms of 2/10, 1/60. FOB shipping point, invoice dated July 31. amount . View transaction list Journal entry worksheet Sold merchandise to Creek Co. for $900 under credit terms of 2/10, 1/60, FOB shipping point, invoice dated July 2. Note: Enter debits before credits. General Journal Debit Credit Date July 02 Record entry Clear entry View general Journal