of 8% and uses a perpetual inventory systers. Lild. during the company's first month of business. The company expects a return rate Feb. 2 Sold $1,138 of merchandise to Andrew Noren on account, terms n/30. The goods had cost Marshall $772. 4 Andrew Noren returned for credit $139 of the merchandise purchased on February 2. The goods had cost Marshall $84 and they were returned to inventory. 5 Sold $758 of merchandise to Dong Corporation on account, terms /30. The goods had cost Marshall $493. 8 Sold \$845 of merchandise to Michael Collins for cash. The goods had cost Marshall $617. 10 Sold $929 of merchandise to Rafik Kurji account, terms r/30. The goods had cost Marshali $685. 22 Dong Corporation paid its account in full. 24. Andrew Noren purchased an additional $695 of merchandise on account, terns n/30. The goods had cost Marshall $412. 27 Sold $1.726 of merchandise to Batstone Corporation, terms rv 30 . The goods had cost Marshall \$1,115. 28 Andrew Noren paid $999 on account (Torecord sales) Cost of Goods Sold Invertory Cash (To record cost of goods sold) Feb.2 Sales Returns and Allowances Accounts Recelvable (To record sales returns) ieventory Cost or Goods Sold (To record cost of goods returned) 2+ (To record cost of goods sold) Feb. 5 (Torecord sales) (To record cost of goods sold) Feb. 5 (To record cost of goods sold) (Torecord sales) (To record cost of goods sold) Feb. 10