Required Problem Solving Assignment-Chapter 51 4 Sev Help Save & Ext Sub Check my work 10 points He Melerences Exercise 5-10 (Algo) Recording sales, purchases, shipping, and returns-buyer and seller LO P1, P2 Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions May 11 Sydney accepts delivery of $30,500 of merchandise it purchases for resale from Troys involes dated May 11, terme 3/10, n/90, FOD shipping point. The goods cost Troy $20,435. Sydney pays $430 cash to Eapenas Shipping for delivery charges on the merchandise, Ray 12 Sydney returns $1,400 of the $30,500 of goods to Troy, who receives then the same day and restores then to its Inventory. The returned goods had cost Troy 5938. May 20 Sydney pays Troy for the amount oved. Troy receives the cash inmediately. (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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. View transaction list Journal entry worksheet < 1 2 4 10 points ellook H Required 1 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. View transaction list Journal entry worksheet References < 1 2 3 Sydney accepts delivery of $30,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $20,435. Record Sydney's entry for this transaction. Note: Enter debits before credits. Date May 111 General Journal Debit Credit > View general journal Record entry Clear entry 4 Required 1 Required 2 10 points ebook Hint References Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. View transaction list Journal entry worksheet 3 < 1 Sydney pays $430 cash to Express Shipping for delivery charges on the merchandise. Record Sydney's entry for this transaction. Note: Enter debits before credits Date May 11 General Journal Debit Credit > Record entry Clear entry View general journal 10 4 points eBook Hint Required 1 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. View transaction list Journal entry worksheet Deferences < 2 4 Sydney returns $1,400 of the $30,500 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $938. Record Sydney's entry for this transaction. Note: Enter debits before credits Date May 12 General Journal Debit Credit View general journal Record entry Clear entry > 4 10 points eBook Hint References Required 1 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. View transaction list Journal entry worksheet 2 3 Sydney pays Troy for the amount owed. Troy receives the cash immediately. Record Sydney's entry for this transaction. Note: Enter debits before credits. Date May 20 General Journal Debit Credit Record entry Clear entry View general journal 4 Required 1 Required 2 10 points Hom Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet References Sydney accepts delivery of $30,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $20,435. Record Troy's entry for this transaction. Note: Enter debts before credits Date May 11 General Journal Debit Credit View general journal Record entry Clear entry Check my work 4 10 Domts HE Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet References < 3 4 5 The goods cost Troy $20,435. Record Troy's entry for this transaction. Note: Enter debits before credits Date May 11 General Journal Debil Credit Record entry Clear entry View general journal Check 4 Required 1 Required 2 10 points Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction Not eBook Hint Journal entry worksheet References 4 5 Sydney returns $1,400 of the $30,500 of goods to Troy, who receives them the same day and restores them to its inventory. Record Troy's entry for this transaction. Note: Enter debits before credits. Date May 12 General Journal Debit Credit Record entry Clear entry View general journal Help Save & Exit Submit Check my work 10 points ellook Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet Hint References < 1 2 3 5 The returned goods had cost Troy $938. Record Troy's entry for this transaction. Note: Enter debits before credits Date May 12 General Journal Debit Credit Record entry Clear entry View general journal 10 poin 4 View transactions ellook Journal entry worksheet 5 Sydney pays Troy for the amount owed. Troy receives the cash immediately. Record Troy's entry for this transaction. References Note Enter debits before credits General Journal Debit Credit Date May 201 Accounts payable Accounts receivable Accumulated depreciation Recorde Building View general journal Check my work