Check my work mode : This shows what Is correct or Incorrect for the work you have completed so far. It does not Indicate completion. Return to question 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, 408 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1- July 2 Sold merchandise to Creek Company for $958 under credit terms of 2/18, n/68, FOB shipping point, invoice dated July 2. The merchandise had cos lise had cost $533- July 3 Paid $130 cash for freight charges on the purchase of July 1. July 8 Sold merchandise that had cost $1, 709 for $2, 109 cash. sed merchandise from Leight Company for $2, 708 under credit terms of 2/15, n/60, FOB destination, imvoice dated July July 11 Returned $708 of merchandise purchased on July 9 from Leight Company and debited its account payable for that amount- July 12 Received the balance due from 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. Sold merchandise that cost $1, 090 to Art Company for $1, 508 under credit terms of 2/15, n/60, FOS shipping point, invoice dated July 19. July 21 Gave a price reduction (allowance] of 8250 to Art Company for merchandise sold on July 19 and credited Art's accounts receivable for that amount. uly 24 Paid Leight Company the balance due, not of discount. July 38 Received the balance due from Art Company for the invoice dated July 19, net of discount. July 31 Sold merchandise that cost $5, 208 to Creek Company for $7, 108 under credit terms of 2/10, n/68, FOB shipping point, invoice dated July 31. Answer Is complete but not entirely correct. No General Journal Cobit Credit July 01 Merchandise Inventory 6.400 Accounts payable-Boden 6.400 July OF Accounts receivable-Crock 900 Sales 900 K July 02 Cost of goods sold 533 Merchandise Inventory 533 July DE Merchandise Inventory 105 Cash July Ce Cash 2 100 Sales 2 100 July CB Cost of goods sold 1.700 Merchandise Inventory 1 700 July 09 Merchandise Inventory 2 800 0 Accounts payable-Leight 2 800 July 11 Accounts payable-Leigh 800 Merchandise Inventory July 12 | Cash 882 0Check my work mode : This shows what is correct or Incorrect for the work you have completed so far. It does not Indicate completion. Return to question July C Cost of goods sold 1,700 Merchandise Inventory 1 700 July 09 Merchandise inventory 2 800 Accounts payable-Leight 2 800( July 1 Accounts payable-Leigh 800 Merchandise Inventory July 12 Cash 882 Sales discounts 18 Accounts receivable-Crock 10 July 16 Accounts payable-Boden 6.400 Cash 6.272 Merchandise inventory 128 11 July 19 Accounts receivable-Art 1.800 Sales 1.800x 12 July 19 Cost of goods sold 1 200 Merchandise inventory 1 200(3 13 July 21 Purchases discounts 300 Accounts receivable-Art 14 July 24 Accounts payable-Leigh 2.000 0 Cash 1.960 Merchandise Inventory 40 15 July 30 Cash 1 470 Sales discounts 30 Accounts receivable-Crock 1,500 July 31 Accounts receivable-Creek 7.200 Sales 7 2003) 17 July 31 Cost of goods sold 5.200 Merchandise Inventory 5.200