McAfee Security 04 Graded Practice i ok il Dell it Document.docx M Fidelity Net Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions. May 11 Sydney accepts delivery of $26,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $17,755 Sydney pays $595 cash to Express Shipping for delivery charges on the merchandise. Saved May 12 Sydney returns $1,200 of the $26,500 of goods to Troy, who receives then the same day and restores then to its inventory. The returned goods had cost Troy $804 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 journal entries that Troy Wholesalers (seller) records for these three transactions. Required 1 Required 2 Complete this question by entering your answers in the tabs below. Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list View journal entry worksheet Help