Exercise 4-10 (Algo) Recording sales, purchases, shipping, and returns-buyer and seller LO P1, P2 Sydney Retalling (buyer) and Troy Wholesalers (seller) enter into the following transactions May 11 Sydney accepts delivery of $23,000 of merchandise it purchases for resale fron Troy Invoice dated May 11, terus 1/10, w/90, Fof shipping point. The goods cost Troy $15,410, Sydney pays $420 coth to Express Shipping for delivery charges on the merchandise May 12 Sydney returns 51,300 of the $23,000 of goods to Troy, who receives then the same day and restores them to its inventory. The returned goods had cost Troy 5871. May 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 foumal entries that Troy Wholesalers (eller records for these three transactions Required 1 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. Its View transaction list eBook Hint Journal entry worksheet Ask Sydney returns $1,300 of the $23,000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $871. Record Sydney's entry for this transaction. Hote: Enter debits before credits Debit General Journal Date Credit May 12 Required 1 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. View transaction list Journal entry worksheet ces Sydney pays Troy for the amount owed. Troy receives the cash immediately, Record Sydney's entry for this transaction Note: Enter debits before credits. General Journal Debit Credit Date May 20 Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet Sydney returns $1,300 of the $23,000 of goods to Troy, who receives them the same day and restores them to its inventory. Record Troy's entry for this transaction. totes Entur debits before credits Date General Journal Debit Credit May 12 Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet 1 2 3 4 5 > The returned goods had cost Troy $871. Record Troy's entry for this transaction. Nobe: Enter debits before credits. Date General Journal Debit Credit May 12 Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet 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