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Please prepare the journal entries for the following practice questions

Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. Juty 1 Purchased merchandise fron Boden Company for $6,200 under credit terms of 2/15,n/30, F0B shipping point, invoice dated July 1. July 2 Sold merchandise to Creek Company for $900 under credit terms of 2/10,n/60,F0B shipping point, invoice dated July 2. The merchandise had cost $517. July 3 Paid $120 cash for freight charges on the purchase of July 1. July 8 Sold merchandise that had cost $1,500 for $1,900 cash. July 9 Purchased merchandise from Leight Company for $2,300 under credit terms of 2/15,n/60, Foe destination, invoice dated July 9. July 11 Returned $3e 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. Juty 16 Paid the balance due to Boden Company within the discount period. July 19 Sold merchandise that cost $1,200 to Art Company for $1,800 under credit terms of 2/15, n/6e, FOB shipping point, invoice dated July 19. July 21 Gave a price reduction (allowance) of $300 to Art Company for merchandise sold on Juty 19 and credited Art's accounts receivable for that anount. Juty 24 Paid Leight Company the balance due, net of discount. July 30 Received the balance due from Art Company for the invoice dated July 19, net of discount. July 31 Sold merchandise that cost $5,000 to Creek Company for $7,100 under credit teras of 2/10, n/60, FOB shipping point, invoice dated July 31

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