Exercise 5-7 Recording sales, purchases, shipping, and returns-buyer and seller LO P1, P2 Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions. I Au pap aoToAUuT ko1 w13 aTeaz 10 caEeznd aT aeTpueqozau o 000'05$ 3o KzaATTap adaooe KaupAs tt Av burddrus cnaadxz 03 q0o SES sAed KaupA 000 '0E$ Koz1 ae0o spoob auL auTod burddrye goa 06/u '0T/SEura aETpueyozau aya uo eabaeua KiaATTap 103 83T 02 maya eazo3az pue Aup aues aya waya gaATapaz oUn Koz1 02 epooD 30 000 '0bs aua go 00 'IS Eunaaz KaupAg Zt 050 I$ Ao11 00 peu spoob pauznaaz au Az0auaAuT ATa2eTpauEr geeo aua caAtaoaz Aozi pano aunoue aua 0 Aoz1 cAud Kaups oz (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. I painbay sitcarhan an oson Joj spuoc (aAng) 6uea en saunue jeuunof auedaud uoestuen May Journal entry worksheet oeae Juj aostyaIu 4 ueyo ju UUU UP> J uonjoy 4uee noupns Journal entry worksheet K I Sydney accepts delivery of $40,000 of merchandise it purchases for resale from Troy: invoice dated May 11; terms 3/10, n/90; FOB shipping point. The goods cost Troy $30,000. General Journal Debi May 11 Record entry Clear entry View general journal SJu sI uoppesuen Ma Journal entry worksheet paddps Sydney pays $345 cash to Express Shipping for delivery charges on the merchandise. "pad ajaq siqap Ja Date General Journal Debit Credit May 11 Clear entry View general journal Prev 16 of 17 Next> H-GE40 Journal entry worksheet padd K I wan saa d o spoo jo 000'0$ aup jo 00I$ suunmau aupAs pey spoob pauunau ayL unuI 0 wa s s pue Aep oes ap os0'I$ AoL s0 General Journal: p May 12 View general journal Prev 16 of 17 Next Sete Cadsoresn oann osoun o spuoee1 (aoAnq) Bue pS 1ep sounua eunol auedaid EBE Journal entry worksheet pad > K ipa i yse an sOAl paMo unowe oup Joj K sed aupAS Credit May 20 View general journal