Prepare our slentries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. Mint will help to identify each receivable and payable: for example, record the purchase on July 1 in Accounts Payable Boden) Del 1 Purchased enchandiserede for s under credit teres of 1/1, the date chandise te Creek C for credit te of 1/1, pin c eted July 3. The ise had cost 350 Dal Paid $ cath for freight charges on the purchase of July 1. Dul Seld merchandise that had cost $1.00 for 11, cash Jul 9 Purchased merchandise from Light Co. for 9.20 credit ters of 2/15, de ti, te dated July Jul. 11 Returned of merchandise Purchased Folyo Le Cod debit 11 t e for at mount. Jul. 12 Received the balance due froe Creek Co. for the invoice dated July 2. net of the discount Jul. 16 Paid the balance due to Hodon Company within the discount period Jul 19 Sold merchandise that cost 1e te art te for $1.200 de credit terms of 2/15, F i ng point, invoice dated Gave price reduction (alla ) of 11 te Art Co. for merchandise sold on My and credited Art's accounts receivable for that amount. ul. 34 Paid Leight Co. the balance due, of discount Jul. 10 Received the balance de from art ce for the more dated July 19, not of discount ul. Sold merchandise that cout 14. to Creek te for $9.000 under credit teres of a h ing point, invoice dated July 11 Answer is not complete Gence Gende sche Schule Income Impact on Requirement Journalize the merchandising transactions. The General Ledger Brabance and schedule of accounts receive accounts payable will be updated based on your entries and Credit 1 0 1 Account Merchandise inventory Accounts payable Boden Deo 8.000 02 O 900 Accounts receivable Cruck Sale 900 3 500 02Costa Merchand o Merch 25 HITHIL THUHULLATHUTHIHIRLITE Account OOO OO OO OO 11 A Check my work mode: T ?fm_ 1 ? Ac 1- HI 41151 Merchandise inventory Merchandise onary 1 Sales uns and how ng cable - Art Cupayable Leon IFIRI Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. (Hint will help to identify each receivable and payable; for example, record the purchase on July in Accounts Payable-Boden) M ul. 1 Purchased merchandise Free Beden company for 5.000 de credit teres of 1/, W h ing point voice dated July 1 Jul. 2 Sold merchandise to Creek Co. for under credit ters of 1/1 /00. W shining point, invoice dated July The merchandise had cost s . M. Pald 125 cash for free charges on the purchase of July 1. Seld merchandise that a cost 11 for 11 cash e rchandise free Lege ce for 12. der credit te of 2/1, , , ivice dated July 11 Return of merchandise chased on rely free lege ca and debited its account payable for that Jul 11 ived the balance due frecreer Co. for the voice dated July 2 nt of the discount Dal 16 Faid the balance de to Baden Company with the discount peris Dal 19 told erchandise that cost tot ce for 11.200wder credit terms of 2/1, / , h t , voice stad Dal 21 a price reduction allowance of $100 t o forecadise solduly 19 and created Arts RS receivable for tha t . 34 Paid Lince the balance due to disco . ul. Received the balance de fret Co. For the voice dated July 19, net of discount ul. Sold chandise that cost $4.00 to Crece for 1.000 de credit teres of 2/1. . . Gated Suly 31. Income Thillande Schedule of Recevables Schedule of Payables Encome For each transaction indicate the impact each dem had on income and the doll amount of the change in income, any. Input decreases to net income as minus sign. Upon completion, compare the gross profit with the amount reported on the partial income statement Impact on income J 1) Purchased merchandise from Boden Company for 38.000 under brems of t16. ro shipping point nie wiedy July 2) Sold merchandise Creek Co. 900 under Credit en of 2/10,00 ron ing point invece dated 21 July 2 The cost of the merchandis e Creek Co. was Paid 125 contorfrugt charges on the purchas July ) Sold merchandise for $1.700 cash way) The cool the merchandise old was 1.300 Pached merchandi c ator 2200 under 215 , FOB destration, De heart of the chuo 19 S 25. a nd O Car $1200 under ponte du The commanded to MC wy24) Pega treba da od SE30) was due to a ce de 10 of disco Gerchand sono, no, r hon point in led handra 311 The C Total grote profit RRIAR ELE