Journal entry worksheet Sydney pays Troy for the amount owed. Troy receives the cash immediately. Note: Enter debits before credits. Journal entry worksheet Record the cost of sales retum. Note: Enter debits before credits. Journal entry worksheet Sydney accepts delivery of $35,500 of merchandise it purchases for resale from Troy: invoice dated May 11 ; terms 3/10,n/90; FOB shipping point. The goods cost Troy $23,785. Note: Enter debits before credits. Sydney pays $305 cash to Express Shipping for delivery charges on the merchandise. Note: Enter debits before credits. Journal entry worksheet Record the sales return. Note: Enter debits before credits. Journal entry worksheet Record the cash collected for credit sales. Note: Enter debits before credits. Exercise 4-7 Recording sales, purchases, shipping, and returns-buyer and seller LO P1, P2 Sydney Retaling (buyer) and Troy Wholesalers (seller) enter into the following transactions Moy 11 Sydney accepts dellvery of $35,500 of merchandise it purchases for resale from Troy: invoice dated May 11; terns 3/10, n/90; Foe shipping point. The goods cost Troy $23,785. Sydopy pays $395 cash to Express Shipping for delivery charges on the merchandise. 12 Sydney returns $1,300 of the $35,500 of goods to Inoy, who receives then the same day and restores then to its inventory. The returned goods had cost Troy' $871. 20 Sydney pays Troy for the anount oupd. Troy receives the cash imediately. (Both Sydney and Troy use a perpetual inventory system and the gross method) 1. Prepare journal entres that Sydney Retalling (buyet) records for these three transactions. 2. Prepare joumat enties that Troy Wholesalers (sellen) records for these three transactions Complete this question by entering your answers in the tabs below. Prepare journal entries that Sydney Retaling (boyer) records for these three transactions: Journal entry worksheet Sydney accepts delivery of $35,500 of merchandise it purchases for resale from Troy: invoice dated May 11; terms 3/10, n/90; FOB shipping point. The goods cost Troy \$23,785. Journal entry worksheet \begin{tabular}{|l|l|l} 4 & 5 \\ \hline \end{tabular} Record the merchandise sold on account. Notet Enter debits before credits. Journal entry worksheet Record the cost of goods sold. Note: Enter debits before credits. Journal entry worksheet 1 4 Sydney returns $1,300 of the $35,500 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $871. Note: Enter debits before credits