Exercise 4-10 (Algo) Recording sales, purchases, shipping, and returns-buyer and seller LO P1, P2 Sydney Retating fouyen and Troy Wholesolers fellen enter mto the following transoctons: may 11 sydney accepts delivery of 521,500 of merchundise at purchases fer rehale fron Iroyz levolce dated myy 11, teras y/10, n/50, nerchantise. The returned coods had cos: tror 173 . may ze sydney pas iroy for the masunt ourd. Troy recelives the cass imediutely. (Both Sydney ond Troy use o perpetusi inventory system and the gross method) 1. Prepare joumal enthes that Sydney Retailing (ouyen records for these three tansoctons 2. Prepsre joumal entries that Troy Wholesalers fselien) records for these three transactiont Frepare joomial entries that sodney fetaluhg (buger) reosids for these three trandactons. Jotirmal entry worlishect Journal entry worksheet Sydney pays 3325 cash to Express Shipping for delivery charges on the merchandise. Record Sydney's entry for this transaction. Notwi I ratar debien bufore crtidet. Journal entry worksheet 1 Sydney retums $1,100 of the $23,500 of goods to Troy, who rhceives them the same day and restores them to its inventory. The returned goods had cost troy \$737. Record Sydney's entry for this transaction. Notwel Enter dnbita beloce creditu. Journal entry worksheet Sydney pays Troy for the amount owed. Troy receives the cash immediately. Record 5ydney's entry for this transaction. Notet Fineer debes balyre urifits. Journal entry worksheet 245 Sydney accepts delivery of 523,500 of merchandise it purchases for resale from Troyt invoice dated May 11, terms 310, NY0, fOB shipping point. The goods cost Troy \$15,745. Alecord Troy's entry for ths transaction. Nocki lrow debeas belore credes. Journal entry worksheet 5 The goods cost Troy $15,745. Record Troy's entry for this transaction. Notet Enter debita before credits. Journal entry worksheet Sydney returns $1,100 of the $23,500 of goods to Troy, who receives them the same day and restores them to its inventory. Record Troy's entry for this transaction. Note: Enter debitn before credits. Journal entry worksheet 1 The returned goods had cost Troy $737. Record Troy's entry for this transaction. Note: Enter debits before credits. Journal entry worksheet