May $11$ Sydney accepts delivery of $$27,500$ of merchandise it purchases for resale from Troy: invoice dated May $11,$ terms $\frac{3}{10},\frac{n}{90},$ FOB shipping point. The goods cost Troy $$18,425.$ Sydney pays $$470$ cash to Express Shipping for delivery charges on the merchandise.

May $12$ Sydney returns $$1,100$ of the $$27,500$ of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $$737.$

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.$)$

Prepare journal entries that Sydney Retailing $($buyer$)$ records for these three transactions.

Prepare journal entries that Troy Wholesalers $($seller$)$ records for these three transactions.

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Required $2$

Prepare journal entries that Troy Wholesalers $($seller$)$ records for these three transactions.

$1$ syaney accepts aeivery or $\frac{\text{\$}}{{?}_1},$ suv or mercnanaise it purchases for resale from Troy: invoice dated May $11,$ terms $\frac{3}{10},\frac{n}{90},$ FOB shipping point. The goods cost Troy $$18,425.$ Record Troy's entry for this transaction.

$2$ The goods cost Troy $$18,425.$ Record Troy's entry for this transaction.

$3$ Sydney returns $$1,100$ of the $$27,500$ of goods to Troy, who receives them the same day and restores them to its inventory. Record Troy's entry for this transaction.

$4$ The returned goods had cost Troy $$737.$ Record Troy's entry for this transaction.

$5$ Sydney pays Troy for the amount owed. Troy receives the