Sydney Retailing $($buyer$)$ and Troy Wholesalers $($seller$)$ enter into the following transactions.

May $11$ Sydney accepts delivery of $$29,000$ of merchandise it purchases for resale from Troy: invoice dated May $11,$ terms $3/10,\frac{n}{90},$ FOB shipping point. The goods cost Troy $$19,430.$ Sydney pays $$575$ cash to Express Shipping for

May $12$ delivery charges on the merchandise. May $20$ Sydney pays Troy returned goods had cost Troy $$804.$

$($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.

Prepare journal entries that Troy Wholesalers $($seller$)$ records for these three transactions.

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Prepare journal entries that Sydney Retailing $($buyer$)$ records for these three transactions.

Journal entry worksheet

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Sydney accepts delivery of $$29,000$ of merchandise it purchases for resale from Troy: invoice dated May $11,$ terms $\frac{3}{10},\frac{n}{90},$ FOB shipping point. The goods cost Troy $$19,430.$ Record Sydney's entry for this transaction.

Note: Enter debits before credits