Check Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions. May 11 Sydney accepts delivery of $25,898 of merchandise it purchases for resale from Troy: invoice dated May 11, teras 3/10, n/90, FOB shipping point. The goods cost Troy $16,750. Sydney pays $475 cash to Express Shipping for delivery charges on the merchandise. 12 Sydney returns $1,100 of the $25,000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $737. 20 Sydney pays Troy for the amount owed. Troy receives the cash immediately. (Both Sydney and Troy use a perpetual inventory system and the gross method.) 1. Prepare journal entries that Sydney Retailing (buyer) records for these three transactions 2. Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions View transaction list CAR Journal entry worksheet 1 2 3 Sydney accepts delivery of $25,000 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $16,750. Note: Enter debits before credits. Date May 11 General Journal Debit Credit Record entry Clear entry View general journal Required 2 > Next UINSleet Sydney pays $475 cash to Express Shipping for delivery charges on the merchandise. Note: Enter debits before credits General Journal Debit Credit May 11 Record entry Cie View general journal Required 21 > 5 Next > Journal entry worksheet Sydney returns $1,100 of the $25,000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $737. Note: Enter debits before credits Date General Journal Debit Credit May 12 Record entny Clear enn View general journal Required2 Journal entry worksheet 23 Sydney pays Troy for the amount owed. Troy receives the cash immediately. Note: Enter debits before credits. General Journal Debit Credit May 20 Record entry G entry Viere general journal Required 2 > Prezo 5 Next > Journal entry worksheet 1 2 3 4 5 Record the merchandise sold on account. Note: Enter debits before credits. General Journal Debit Credit May 11 Record entry Clear entry View general journal Journal entry worksheet Journal entry worksheet Journal entry worksheet Record the cost of sales return. Note: Enter debits before credits General Journal Debit Credit Record entry Clear en View general journal Journal entry worksheet