Sydney Retailing (buyet) and Troy Wholesalers (seller) enter into the following transactions May 11 Sydney accepts delivery of $40,000 of merchandise it purchases for resale froe Troy: Invoice dated May 11, terms 3/10, n/90, ROB shipping point. The goods cost Troy 530,000 Sydney pays $345 cash to Express Shipping for delivery charges on the merchandise. 12 Sydney returns $1,400 of the $40,000 of goods to Troy, who receives then the same day and restore them to its inventory. The returned goods had cost Troy $1,050. 22 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. Required 1 Required 2 Prepare journal entries that Sydney Retailirig (buyer) records for these three transactions. View transaction list Journal entry worksheet 2 3. 4 1 > Sydney accepts delivery of $40,000 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, V90, rol shipping point. The goods cost Troy $30,000