prepare journal entries for both retailer and buyer

dney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions. 11 Sydney accepts delivery of $28,000 of merchandise It purchases for resale from Troy; invoice dated May 11, terna 3/10, n/90, FOB shipping point. The goods cost Troy $18,760. Sydney pays $550 cash to 8xpress shipping for delivery charges on the merchandise. 12 Sydney returns $1,200 of the $28,000 of goods to 7roy, who receives then the same day and restores thon to its inventory. The returned goods had cost Troy $804. ay 20 Sydney pays Froy for the amount oved. 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. 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 joumal entries that Sydney Retailing (buyer) records for these three transactions