work: P5-1A 0 Saved Help Save & Che 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 fron Boden Company for $6,000 under credit terns of 1/15, n/38, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, Invoice dated July 2. The merchandise had cost $500. 3. Pald $125 cash for freight charges on the purchase of July 1. 8 Sold merchandise that had cost $1,300 for $1,700 cash. 9 Purchased merchandise from Leight Co. for $2,200 under credit term of 2/15, n/6, FOB destination, Invoice dated July 9. 11 Returned $200 of merchandise purchased on July 9 frow Light Co., and debited Its account payable for that amount. 12 Received the balance due fra Cres 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 see to Art Co. for $1,200 under credit terns of 2/15, 1/60, FOB shipping point, Invoice dated July 19 21 Gave a price reduction (allowance) of 5100 to Art Co. for merchandise sold on July 19. and credited Art's accounts receivable for that amount 24. Pala Leight to the balance due, net of discount. 50 Received the balance due from Art Co. for the invoice dated July 10.net af discount 31 Sold merchandise that cost 54,808 to Creek Co. for $7,000 under credit tes of 2/10, 1/60, Foothipping point folce Bated uly 31. View traction ist Journal entry worksheet ere to search DELL