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Step $1$: Prepare journal entries for each of the above transactions.

Step $2$: Set up T accounts for Andrew Noren, Batstone corporation, Dong corporation, Rafik Kurji and General Ledger control account.

Step $3$: Prepare a list of customers and balances of their account from subsidiary ledger.

Selected transactions follow for Pukalani Sports Ltd$.$ during the company's first month of business. The company expects a return rate

of $8\%$ and uses a perpetual inventory system.

Feb. $2$ Sold $$1,146$ of merchandise to Andrew Noren on account, terms n$/30.$ The goods had cost Pukalani $$765.$

$4$ Andrew Noren returned for credit $$140$ of the merchandise purchased on February $2.$ The goods had cost Pukalani

$$84$ and they were returned to inventory.

$5$ Sold $$753$ of merchandise to Dong Corporation on account, terms $\frac{n}{30}.$ The goods had cost Pukalani $$495.$

$8$ Sold $$838$ of merchandise to Michael Collins for cash. The goods had cost Pukalani $$618.$

$10$ Sold $$922$ of merchandise to Rafik Kurji on account, terms $\frac{n}{30}.$ The goods had cost Pukalani $$674.$

$22$ Dong Corporation paid its account in full.

$24$ Andrew Noren purchased an additional $$698$ of merchandise on account, terms $\frac{n}{30}.$ The goods had cost Pukalani

$$410.$

$27$ Sold $$1,748$ of merchandise to Batstone Corporation, terms n$/30.$ The goods had cost Pukalani $$1,113.$

$28$ Andrew Noren paid $$1,006$ on account.

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