Ch 4: Homework Saved Help Save & Exht Submit Check my work 2 Exercise 4-7 Recording sales, purchases, shipping, and returns-buyer and seller LO P1, P2 9 points Skipped Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions May 11 Bydney accepts delivery of $24,000 of merchandise it purchases for rent from Troy invoice dated May 11, terme 3/10, 1/90, TOB shipping point. The goods cont Troy 616,080. Sydney pays $50 cash to Express Shipping for delivery charges on the merchandise 12 Sydney return $1,200 of the $24,000 of goods to Troy, who receive them the same day and restore then to its inventory. The returned goods had cont Troy $104. 20 Sydney paye Troy for the amount owed. Troy receiven the cash imediately. (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 eller records for these three transactions ebook Hint References Complete this question by entering your answers in the tabs below. Required 1 Required 2