1. 2 On December 3, Cullumber Company sold $640,000 of merchandise to Blossom Co. on account. The cost of the merchandise sold was $422.400. On December 8, Blossom Co. returned $32,000 of merchandise purchased on December 3. The cost of the goods was $20,480 On December 13, Cullumber Company received the balance due from Blossom Co. 3. Prepare a tabular summary to record these transactions for Cullumber Company using a perpetual inventory system. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45)) Assets Lic Accts. Rec. Date Cash Inventory Dec. 3 $ $ $ 8 1. 2 On December 3, Cullumber Company sold $640,000 of merchandise to Blossom Co.on account. The cost of the merchandise sold was $422,400. On December 8, Blossom Co. returned $32,000 of merchandise purchased on December 3. The cost of the goods was $20,480. On December 13, Cullumber Company received the balance due from Blossom Co. 3. Prepare a tabular summary to record these transactions for Cullumber Company using a perpetual inventory system. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45)) Liabilities Stockholders' Equity Retained Earnings Accts. Rev. Common Stock Pay. Exp. $ S $ $