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Required information [The following information applies to the questions displayed bolow] Sydney Retailng (buyer) and Troy Wholesalers (solien) enter into the following transactions. May 11

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Required information [The following information applies to the questions displayed bolow] Sydney Retailng (buyer) and Troy Wholesalers (solien) enter into the following transactions. May 11 sydoey accepts detivery of s4t, a0e of nerthandise it purchases for fesate fron Treyt invoice dated Nay 11, terms J/le, n/90, Foe shipping point. The gseds cost Troy s39, 0eo. Sydney pays sus cast to Express Shipaing for delivery charges on the therchatdise. May 12 Sydhey returas 11,406 of the 140, eles of goods to Iroy, bho recelves then the sane day and restores May 20 Sydbey fays. Inventory. The returned goods has cost froy \$1, ase. (Both Sydney and Troy use a perpefual imentory system and the net method) 2. Prepare joumal entries that Troy Wholesalers (sellen records for these three transactions

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