Question: it says the amount for 2,4 and 5 are wrong Sydney Retaling (buyer) and Troy Wholesalers (seller) enter into the following transactions May 11 Sydney



Sydney Retaling (buyer) and Troy Wholesalers (seller) enter into the following transactions May 11 Sydney accepts delivery of $39,000 of merchandise it purchases for resale from Troy invoice dated May 11, terna 3/10.5/90TOB shipping point. The goods cost Troy $26,130. sydney pay $555 cash to press Shipping for 12 Sydney returns $1,100 of the $39,000 of goods to Troy, who receives then the same day and restore then to its 20 Sydney pays Troy for the amount oved. 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
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