SET A Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual ieventory system and the gross method. Wint: It will belp to identify each receivable and pay: able; for example, record the purchave on Jaly 1 in Accounts Payable-Boden. Jaly 1 Parchased merchandise from Boden Company for $6,000 under credit terms of 1/15,0/30, FOB shipping point, imvice dated Jaly 1. 2. Sold merchandise to Crek Co. for $900 under credit terms of 2/10,0/60. FOB shipping poist. invoice dated Jaly 2 . The merchandise had cost $500. 3 Paid $125 cash for freight charges on the purchase of July 1. 8 Sold merchandise that had cost $1,300 for $1,700cash. 9 Purchased merchandise from Leight Co, for $2,200 under credit terms of 2/15,n/60,FOB destination, invoice dated Jaly 9. 11 Retarned $200 of merchandise porchased on July 9 from Leight Co. and debited its account Dis can. payable for that amouns. 12 Received the balance due from Creek Co, for the invoice dated July 2, net of the discount. \$2040 16 Paid the balance dee to Bodes Company within the discount period. 19. Sold merchandise that cost $800 to Art Co. for $1,200 undor credit termis of 2/15,D/60, FOB shipping poiat, imvice dated Jely 19. 21 Gave a price reduction (allowanco) of $100 to Art Co. for merchandise sold on July 19 and crodited Art's accoonts receivable for that amount. 24 Paid Leight Co the balance due, net of discosan. 30 Received the balance due from Art Co. for the invoice dated July 19, net of discount. 31 Sold merchandise that cost $4,800 to Creek Co, for $7,000 under credat terms of 2/10, n/60, FOB shipping point, invoice dated Jaly 31