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please answer all the questions Last Name First Name Student ID SEC Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions May

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Last Name First Name Student ID SEC Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions May 11 Sydney accepts delivery of $40,000 of merchandise it purchases for resale from Troy invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $30,000. Sydney pays $345 cash to Express Shipping for delivery charges on the merchandise of the $40,000 of goods to Troy, who receives them the same day and restores them to its inventory The returned goods had cost Troy S1,050. 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 net sal es method and the gross purchases method.) Prepare journal entries that the SELLER Troy Wholesalers records for these transactions Sales Refunds were accrued at the end of the prior year No Date General Journal Debit Credit May 11 May 11 May 12 y 12 5 May 20

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