Saved Help Save & Exit Submit Homework 6 Check evokes 5 Exercise 4-7 Recording sales, purchases, shipping, and returns-buyer and seller LO P1, P2 09 onts Skipped Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions May 11 Sydney accepta delivery of $29,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terns 3/10, 1/90, TOB shipping point. The goods coat Troy $19,765. Sydney pays $630 cash to Express Shipping for delivery charges on the merchandise. 12 Sydney returns $1,300 of the $29,500 of goods to Troy, who receives then the same day and restore them to its inventory. The returned goods had cost Troy 1871. 20 Sydney paya Troy for the amount oved. Troy receives the cash immediately. (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. eBook Hint Complete this question by entering your answers in the tabs below. Print References Required 1 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions View transaction et Journal entry worksheet > Sydney accepts delivery of $29,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terma 3/10, V90, FOB shipping point. The goods cost Troy $19,765 Debit Cred General Journal Date May 11 Viewer journal Record Required 2