ook int int ences Sydney Retailing buyer and Troy Wholesalers seller enter into the following transactions May 11 Sydney accepts

Question

ook int int ences Sydney Retailing buyer and Troy Wholesalers seller enter into the following transactions May 11 Sydney accepts delivery of 37 500 of merchandise it purchases for resale from Troy invoice dated May 11 terms 3 10 n 90 FOB shipping point The goods cost Troy 25 125 Sydney pays 435 cash to Express Shipping for delivery charges on the merchandise May 12 Sydney returns 1 200 of the 37 500 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 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 Retailing buyer records for these three transactions Check my we

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