Exercise 4-10 (Algo) Recording sales, purchases, shipping, and returns-buyer and seller LO P1, P2 2 Sydney Retailing (buyen and Troy Wholesalers (seller) enter into the following transactions 33 Hay 11 Sydney accepts delivery of $20.500 of merchandisest purchases for sale from Tray Irelor dated 11. terus 3/10, 1/90. FOB shipping point. The food cost Troy $19,095. Sydney pay $545 cach to press Shipping for delivery changes on the merchandise May 12 Sydney returns $1.000 af the 528, goods to receives then the same day and restore then to its inventory. The returned goods had cost Trey 5958 Ray 30 Sydney pays Troy for the mounted Troy receives the cash dately. (Both Sydney and Troy use a perperant inventory system and the gross method) 1. Prepare Journal entries that Sydney Retailing buyen records for these three transactions 2. Prepare journal entries that Troy Wholesalers eller records for these three transactions Complete this question by entering your answers in the tabs below. The goods cost Troy $19,095. Record Troy's entry for this transaction. Note: Enter debits before credits Date Debit Credit May 11 General Journal Merchandise inventory Accounts payable 19.095 19.095 A Sydney returns $1,400 of the $28,500 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 debits before credits Date General Journal Debit Credit May 12 The returned goods had cost Troy $938. Record Troy's entry for this transaction. Note: Enter debits before credits. Date General Journal Debit Credit May 12 Sydney pays Troy for the amount owed. Troy receives the cash immediately. Record Troy's entry for this transaction. Note: Enter debits before credits. Date General Journal Debit Credit May 20