Prepare journal entries to record the following merchandising transactions of Blink Company, which applies the perpetual inventory system. (Hint: It wll 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 $6,000 under credit terms of 1/15, n/30, PROBLEM SET A Problem 4-1A Preparing journal entries for merchandising activities- perpetual system FOB shipping point, invoice dated July 1. Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2.