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Required information Exercise 5-22D Recording sales, purchases, shipping, and returns: buyer and seller-perpetua method LO P7 The following information applies to the questions displayed below] Sydney Retalling (buyer) and Troy Wholesalers (seller) enter into the following transactions. ay ii sydney accepts delivery of $4e,eee of merchandise it purchases for resale from Troy: nvoice date ay 12 Sydney returns Si,eee of the SAB,000 of goods to Troy, who receives then the same day and restor ay 20 Sydney pays Troy for the anount owed. Troy receives the cesh inmediately Both Sydney and Troy use a perpetual inventory system and the net method.) 3/18, n/99; FoB shipping point. The goods cost Troy $31,008. Sydney pays $300 cash to Expres delivery charges on the merchandise inventory. The returned goods had cost Troy $775 te ise 5-22D Part 2 Seller ds for these transactions Required information Exercise 5-22D Recording sales, purchases, shipping, and returns: buyer and se method LO P7 The following information applies to the questions displayed below] Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions lay 11 Sydney accepts delivery of $40,000 of May 12 Sydney returns $1,eee of IHay 20 Sydney pays Troy for the amount owed.Trey ressives the sash innediately. Both Sydney and Troy use a perpetual inventory system and the net method) merchandise it purchases for resale from Troy 3/10, n/9; FOB shipping point. The goods cost Troy $31,e00. Sydney pays $30e delivery charges on the merchandise. the $40,000 of goods to Troy, who receives then the sane inventory. The returned goods had cost Tcoy $775. xercise 5-22D Part 2 Seller Prepare journal entries that Hoy Wholesalers records for these transactions