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July 1 Purchased merchandise from Boden Company for $6,500 under...

July 1 Purchased merchandise from Boden Company for $6,500 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. July 2 Sold merchandise to Creek Co. for $950 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $542. July 3 Paid $140 cash for freight charges on the purchase of July 1. July 8 Sold merchandise that had cost $1,800 for $2,200 cash. July 9 Purchased merchandise from Leight Co. for $2,700 under credit terms of 2/15, n/60, FOB destination, invoice dated July 9. July11 Received a $700 credit memorandum from Leight Co. for the return of part of the merchandise purchased on July 9. July12 Received the balance due from Creek Co. for the invoice dated July 2, net of the discount. July16 Paid the balance due to Boden Company within the discount period. July19 Sold merchandise that cost $1,200 to Art Co. for $1,800 under credit terms of 2/15, n/60, FOB shipping point, invoice dated July 19. July21 Issued a $300 credit memorandum to Art Co. for an allowance on goods sold on July 19. July24 Paid Leight Co. the balance due after deducting the discount. July30 Received the balance due from Art Co. for the invoice dated July 19, net of discount. July31 Sold merchandise that cost $5,300 to Creek Co. for $7,200 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 31. Prepare journal entries to record the above merchandising transactions of Blink Company, which applies the perpetual inventory system.

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