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Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions: May 11 Sydney accepts delivery of 535,000 of merchandise it purchases for resale from Troy invoice dated May 11. teras 3/10, n/90, Foe shipping point. The goods cost Troy $23,450, Sydney pays $420 cash to Express Shipping for delivery charges on the merchandise. 12. Sydney returns $1,200 of the $35,000 of goods to Troy, who roceives them the same day and restores then to its inventory. The returned goods had cost. Troy 5804 . 20 Sydney pays Troy for the amount owed. Troy receives the cash ianediately. Both Sydney and Troy use a perpetual inventory system and the gross methodl Prepare journal entries that Sydney Retailing (buyer) records for these three transactions: Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. Journal entry worksheet 4 Sydney accepts delivery of $35,000 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $23,450. Note: Enter debits before credits. Journal entry worksheet Sydney pays $420 cash to Express Shipping for dellvery charges on the merchandise. Note: Enter debits before credits. Journal entry worksheet Sydney returns $1,200 of the $35,000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $804. Note: Enter debits before credits. Journal entry worksheet 1. Sydney pays Troy for the amount owed. Troy receives the cash immediately. Note: Enter debits before credits. Journal entry worksheet 5 Record the merchandise sold on account. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet