Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions. May 11 Sydney accepts delivery of $34,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $23,115. Sydney pays $355 cash to Express Shipping for delivery charges on the merchandise. May 12 Sydney returns $1,200 of the $34,500 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $804. May 20 Sydney pays Troy for the amount owed. Troy receives the cash immediately. (Both Sydney and Troy use a perpetual inventory system and the gross method.) Required: 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. Required 1 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. View transaction list Journal entry worksheet > 1 2 3 4 Sydney accepts delivery of $34,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $23,115. Record Sydney's entry for this transaction. Note: Enter debits before credits. Date May 11 General Journal Debit Credit View general journal Record entry Clear entry > Required 1 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. View transaction list Journal entry worksheet < 1 2 3 4 Sydney pays $355 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 > Required 1 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. View transaction list Journal entry worksheet < 1 2 3 4 Sydney returns $1,200 of the $34,500 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $804. 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 Required 11 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. View transaction list Journal entry worksheet < 1 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 Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet 1 2 3 4 5 Sydney accepts delivery of $34,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $23,115. Record Troy's entry for this transaction. Note: Enter debits before credits. Date May 11 General Journal Debit Credit Record entry Clear entry View general journal Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet < 1 2 3 4 5 The goods cost Troy $23,115. Record Troy's entry for this transaction.. Note: Enter debits before credits. Date May 11 General Journal Debit Credit Record entry Clear entry View general journal Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet < 1 2 3 4 5 Sydney returns $1,200 of the $34,500 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 > Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet < 1 2 3 5 The returned goods had cost Troy $804. 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 Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet < 1 2 3 4 5 Sydney pays Troy for the amount owed. Troy receives the cash immediately. Record Troy's entry for this transaction. Note: Enter debits before credits. Date May 20 General Journal Debit Credit View general journal Clear entry Record entry >