Prepare a tabular summary to record the transactions assuming the company uses a perpetual inventory system.

On October 1, the Ivanhoe Bicycle Store had an inventory of 19 ten speed bicycles at a cost of $150 each. During the month of October, the following transactions occurred. Ivanhoe uses a perpetual inventory system. Oct. 4. Purchased 156 bicycles at a cost of $150 each from the Nixon Bicycle Company, on account. 6 7 Sold 11 bicycles from the October 1 inventory to Team America for $250 each, on account. Returned 9 defective bicycles to Nixon Bicycle Company. Team America returned one bicycle. 13 14 Paid Nixon Bicycle Company in full. Assets II Liabilities + 11 Cash Accounts Receivable Inventory Accounts Payal Oct.4 $ $ $ $ $ 6 7 13 14 Assets II Liabilities + 11 Cash Accounts Receivable Inventory Accounts Payal Oct.4 $ $ $ $ $ 6 7 13 14 Stockholder's Equity Retained Earnings Rev. Exp. Div. $ $ tA $ Sales revenue Cost of goods sold Sales returns and allowances Cost of goods sold