Selected transactions follow for Golden Valley Sports Ltd. during the companys first month of business. The company expects a return rate of 8% and uses a perpetual inventory system. Feb. 2 Sold $1,151 of merchandise to Andrew Noren on account, terms n/30. The goods had cost Golden Valley $758. 4 Andrew Noren returned for credit $139 of the merchandise purchased on February 2. The goods had cost Golden Valley $85 and they were returned to inventory. 5 Sold $768 of merchandise to Dong Corporation on account, terms n/30. The goods had cost Golden Valley $495. 8 Sold $840 of merchandise to Michael Collins for cash. The goods had cost Golden Valley $621. 10 Sold $915 of merchandise to Rafik Kurji account, terms n/30. The goods had cost Golden Valley $683. 22 Dong Corporation paid its account in full. 24 Andrew Noren purchased an additional $701 of merchandise on account, terms n/30. The goods had cost Golden Valley $411. 27 Sold $1,728 of merchandise to Batstone Corporation, terms n/30. The goods had cost Golden Valley $1,100. 28 Andrew Noren paid $1,012 on account.