May 11 Sydney accepts delivery of $29,000 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $19,430. Sydney pays $300 cash to Express Shipping for delivery charges on the merchandise. 12 Sydney returns $1,200 of the $29,000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $804. 20 Sydney pays Troy for the amount owed. Troy receives the cash immediately. Assume that both buyer and seller use a periodic 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. View transaction list View journal entry worksheet No 1 Date May 11 Purchases General Journal Debit 29,000 Credit

May 11: 5ydney accepts delivery of $29,000 of nerchandise it purchases for resale from Troy: invoice dated May 11, terns 3/10, n/90, FOS shipping point. The goods cost Troy $19,430. Sydney pays $300 cash to Express Shipping for delivery charges on the merchandise. 12 sydney returns $1,200 of the $29,000 of goods to froy, who recelves them the saee day and restores then to its inventory. The returned poods had cost Troy 5604. 20 Sydney pays Troy for the anount oued. Troy receives the cash imediately. Assume that both buyer and seller use a periodic inventory system and the gross method. 1. Prepare joumal entries that Sydney Retailing (buyer) records for these three transactions. 2. Prepare journal entries that Troy Wholesalers (seller) records for these three transactions Complete this question by entering your answers in the tabs below. Prepare journal entrier, that Sydney Retaling (buyer) records for these three transactions: Journal entry worksheet Sydney accepts delivery of $29,000 of merchandise it purchases for resale from Troy: invoice dated May 11 , with terms of 3/10,n/90,FOB shipping point. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. Journal entry worksheet 3 Sydney returns $1,200 of the $29,000 of goods to Troy. Note: Enter debito before credits. Complete this question by entering your answers in the tabs below. Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. Journal entry worksheet 1 Sydney mails a check to Troy Corporation for the amount owed. Troy receives the cash immediately. Note: Enter debits before credits