Che Sydney Retaling (buyer) and Troy Wholesalers (seller) enter into the following transactions May 11 Sydney accepts delivery of $26,000 of merchandise it purchases for resale from Troy: invoice dated May 11; terms 3/1e, n/90; FOB shipping point. The goods cost Troy $17,420. Sydney pays $409 cash to Express Shipping for delivery charges on the merchandise. 12 Sydney returns $1,600 of the $26,808 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $1,072. 20 Sydney pays Troy for the amount owed. Troy receives the cash immediately Assume that both buyer and seller use a periodic inventory system and the gross method. 1. Prepare journal entries that Sydney Retailing records for these transactions 2 Prepare journal entries that Troy Wholesalers records for these transactions. Complete this question by entering your answers in the tabs below Required 1 Required 2 Prepare journal entries that Sydney Retailing records for these transactions. View transaction list Required 1 Required 2 Prepare journal entries that Sydney Retailing records for these transactions. View transaction list Journal entry worksheet Sydney accepts delivery of $26,000 of merchandise it purchases for resale from Troy: invoice dated May 11; terms 3/10, n/90; FOB shipping point. The goods cost Troy $17,420. Note: Enter debits before credits. Date General Journal Debit Credit May 11 Required 1 Required 2 Prepare journal entries that Troy Wholesalers records for these transactions. View transaction list Journal entry worksheet 2 3 Sydney accepts delivery of $26,000 of merchandise it purchases for resal from Troy: invoice dated May 11, with terms of 3/10, n/90, FOB shipping point. Note: Enter debits before credits Date General Journal Debit Credit May 11 K Prev 5 of 5Not