Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions. May 11 sydney accepts delivery of $31,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $21,105. Sydney pays S660 cash to Express Shipping for delivery charges on the merchandise. 12 Sydney returns $1,200 of the $31,500 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $804. 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.) 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. Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. View transaction list Dints eBook Hint 1 Sydney accepts delivery of $31,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $21,105. Print esale ht. The "eferences 2 Sydney pays $660 cash to Express Shipping for delivery charges on the merchandise. Credit 3 Sydney returns $1,200 of the $31,500 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $804. 4 Sydney pays Troy for the amount owed. Troy receives the cash immediately. Note : - journal entry has been entered Record entry Clear entry View general journal viewtantsaction USE Journal entry worksheet 2 3 4 Sydney accepts delivery of $31,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $21,105. Note: Enter debits before credits. General Journal Debit Credit Date May 11 View general journal Record entry Clear entry Journal entry worksheet