Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions. May 11- \$ydney accepts delivery of $28,000 of merchandise It purchasen for resale from Troy: involce dated May 11, terne 3/10, n/90, ros shipping point. The goode eoet Troy $18,760. 5ydney paya $400 ganh to Exprese shipping for delivery charges on the merchandise. 12 sydnoy returnil $1,600 of the $28,000 of good to Troy, who recelves them the same day and restores them to iti inventory. The returned qoods had eont Troy $1,072. 20 sydney pays Troy for the amount owed. Troy receives the cash immediately. Assume that both buyer and seller use a periodic 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. Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. Journal entry worksheet Sydney accepts delivery of $28,000 of merchandise it purchases for resale from Troy: invoice dated May 11 , terms 3/10, n/90, FOB shipping point. The goods cost Troy $18,760. Note: Enter debits before credits. Journal entry worksheet Record the transportation cost paid to express shipping. Note: Enter debits before credits. Journal entry worksheet Sydney returns $1,600 of the $28,000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $1,072. Note: Enter debits before credits. Journal entry worksheet Sydney pays Troy for the amount owed. Troy receives the cash immediately. Note: Enter debits before credits. Journal entry worksheet Sydney accepts delivery of $28,000 of merchandise it purchases for resale from Troy: Invoice dated May 11 , with terms of 3/10,n/90, FOB shipping point. Note: Enter debits before credits. Journal entry worksheet Sydney returns $1,600 of the $28,000 of goods to Troy. Note: Enter debits before credits. Journal entry worksheet Sydney mails a check to Troy Corporation for the amount owed. Troy receives the cash immediately. Note: Enter debits before credits