Problem 5-1A Preparing journal entries for merchandising activities-perpetual system LO P1, P2 July 1 Purchased merchandise from Boden Company for $6,600 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July1 2 Sold merchandise to Creek Co. for $900 under credit terms of 210, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $550 3 Paid $100 cash for freight charges on the purchase of July 1 8 Sold merchandise that had cost $1,900 for $2,300 cash. 9 Purchased merchandise from Leight Co. for $2,900 under credit terms of 2/15, n/60, FOB destination invoice dated July 9 11 Received a $900 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 $1.200 to Art Co. for $1,800 under credit terms of 2/15, n/60, FOB shipping point, invoice dated July 19 21 Issued a $300 credit memorandum to Art Co for an allowance on goods sold on July 19 24 Paid Leight Co. the balance due after deducting the discount 30 Received the balance due from Art Co. for the invoice dated July 19, net of discount 31 Sold merchandise that cost $5,400 to Creek Co. for $7,400 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 31 Prepare journal entries to record the above merchandising transactions of Blink Company, which applies the perpetual inventory system View transaction list 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 Date General Journal July 01 Record entry Clear entry View general journal