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Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system an Paid Leight Company the balance due, net of discount.

Vote: Enter debits before credits. $1$

$...10$

$11$

$12$

$13$

$14$

$15$

$16$

$17$

Received the balance due from Art Company for the invoice dated July $19,$ net of discount.

Jote: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$July $30,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$ Journal entry worksheet

$1$

Sold merchandise to Creek Company for $$7,000$ under credit terms of $2/10,$

n$/60,$ FOB shipping point, invoice dated July $31.$

Jote: Enter debits before credits.Record cost of merchandise sold, $$5,600.$

Jote: Enter debits before credits.

the gross method.

July $1$ Purchased merchandise from Boden Company for $$6,800$ under credit terms of $\frac{2}{15},\frac{n}{30},$ FOB shipping point,

invoice dated July $1.$

July $2$ Sold merchandise to Creek Company for $$900$ under credit terms of $\frac{2}{10},\frac{n}{60},$ FOB shipping point, invoice dated

July $2.$ The merchandise had cost $$567.$

July $3$ Paid $$125$ cash for freight charges on the purchase of July $1.$

July $8$ Sold merchandise that had cost $$2,100$ for $$2,500$ cash.

July $9$ Purchased merchandise from Leight Company for $$2,600$ under credit terms of $\frac{2}{15},\frac{n}{60},$ FOB destination, invoic

dated July $9.$

July $11$ Returned $$600$ 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.

July $19$ Sold merchandise that cost $$1,000$ to Art Company for $$1,500$ under credit terms of $2/15,$ n$/60,$ F$0$B shipping

point, invoice dated July $19.$

July $21$ Gave a price reduction $($allowance$)$ of $$250$ to Art Company for merchandise sold on July $19$ and credited Art's

accounts receivable for that amount.

July $24$ 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 $$5,600$ to Creek Company for $$7,000$ under credit terms of $\frac{2}{10},$ n$/60,$ FOB shipping

point, invoice dated July $31.$

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