You Ube Maps Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. Hinc It will help to identify each receivable and payable, for example, record the purchase on July 1 in Accounts Payable-Boden July 1 Purchased merchandise from Boden Company for $6,00e under credit terms of 1/15, 1/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, 1/60, F06 shipping point, Invoice dated July 2. The merchandise had cost $500. 3 Paid $125 cash for freight charges on the purchase of July 1. B Sold merchandise that had cost $1,300 for $1,700 cash. 9 Purchased serchandise from Leight Co. for $2,200 under credit terms of 2/15, 1/60, FCB destination, invoice dated July 9. 11 Returned 5200 of merchandise purchased on July 9 fron Leight Co., and debited its account payable for that amount. 12 Received the balance due fron 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 5800 to Art Co. for $1,200 under credit terms of 2/15, n/60, FOB shipping point, Invoice dated Ouly 19. 21 Gave a price reduction allowance) of $100 to Art Co. for merchandise sold on July 19, and credited Art's accounts receivable for that amount. 24 Paid Leight Co. the balance due, net of discount. 30 Received the balance due from Art Co. for the invoice dated July 19, net of discount. 31 Sold merchandise that cost 54,800 to Creek Co. for $7,000 under credit terms of 2/10, 1/60, FOB shipping point, invoice dated July 31. Journal entry worksheet