View Policies Current Attempt in Progress The following transactions are for Cullumber Company. 1. 2. On December 3, Cullumber Company sold $420,000 of merchandise to Ivanhoe Co. on account. The cost of the merchandise sold was $277,200. On December 8, Ivanhoe Co. returned $21,000 of merchandise purchased on December 3. The cost of the goods was $13,440. On December 13, Cullumber Company received the balance due from Ivanhoe 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 e.g. -45 or parentheses e.g. (45).) Assets Accts. Date Cash + Rec. Inventory Dec. 3 $ $ $ $ 8 13 Liabilities Stockholders' Equ Accts. Pay. + Common Stock + Rev. $ $ $ $ Stockholders' Equity Retained Earnings imon Stock Rev. Exp. $ $