Wext/map/index.html?con conexternal browser.caunchurisht apter 4 Save Ex Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. Hint: 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 $6,700 under credit terms of 2/15, R/38, FOB shipping point, invoice duted July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, 1/60, FOB shipping point, invoice dated July 2. The merchandise had cost $558. 3 Paid $120 cash for freight charges on the purchase of July 1. & Sold merchandise that had cost $2,000 for $2,400 cash. 9 Purchased merchandise from Leicht Co. for $2,700 under credit terns of 2/15, 1/60, FOB destination invoice dated July 9. 11 Returned $700 of merchandise purchased on July 9 from Leight Co. and debited its account payable for that amount 12 Received the balance due from Creek Co. for the invoice dated July 2, net of the discount. 26 Paid the balance due to Boden Company within the discount period, 19 Sold merchandise that cost $800 to Art Co. for $1,200 under credit terms of 2/15, n/Ge, FOB shipping point, invoice dated July 19. 21 Gave a price reduction (allowance) of $2ee 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 $5,see to Creek Co. for $6,800 under credit terms of 2/10, 1/60, FOS shipping point, invoice dated July 31. View transaction list Next > Prev 14 of 15 R