Question 4

IGNMENT Saved H May 12 May 11 Sydney accepts delivery of $40,000 of merchandise it purchases for resale from Troy: invoice dated May 11, terma 3/10, n/90, TOB shipping point. The goods coot Troy $30,000. Sydney pays $345 cash to Express Shipping for delivery charges on the merchandise. Bydney return $1,400 of the $40,000 of goods to Troy, who receives then the same day and restores them to its inventory. The returned goods had cont Troy $1,050. 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 Retaling (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. View transaction list Journal entry worksheet May 11 Sydney accepto delivery of $40,000 of merchandise it purchases for resale from Troy: invoice dated May 11, torna 3710, n/90, FOB shipping point. The goods cont Troy $30,000. Sydney pays $345 cash to Express Shipping for delivery charges on the merchandise. Sydney returns $1,400 of the $40,000 of goods to Troy, who receives then the same day and restores them to its May 12 inventory. The returned goods had cont Troy $1,050. May 20 Sydney payo 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, View transaction list Journal entry worksheet 1 2 Sydney pays $345 cash to Express Shipping for delivery charges on the merchandise. Record Sydney's entry for this transaction, Note: Enter debits before credits General Journal Dobit Credit Date May 11 Saved HE May 12 May 11 Sydney accepts delivery of $40,000 of merchandise it purchases for resale from Troy: invoice dated May 11, terma 3/10, n/90, FOB shipping point. The goods coat Troy $30,000. Sydney pays $345 cash to Express Shipping for delivery charges on the merchandise. Sydney returns $1,400 of the $40,000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $1,050. 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. View transaction flat Journal entry worksheet weba $%252F SIGNMENT 6 Saved Hel May 11 Sydney accepta delivery of $40,000 of merchandise it purchases for resale from Troy: Invoice dated May 11, terms 3/10, n/90, TOB shipping point. The goods cost Troy $30,000. Sydney pays $345 cash to Express Shipping for delivery charges on the merchandise. May 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. May 20 Sydney pays Troy for the amount owed. Troy receives 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 (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 Troy Wholesalers (seller) records for these three transactions. View transaction flat Journal entry worksheet 2 3 5 > Sydney accepts delivery of $40,000 of merchandise it purchases for resale from Troy invoice dated May 11, terms 3/10, 1/90, FOB shipping point. The goods cost Troy $30,000. Record Troy's entry for this transaction Note: Enter debits before credits General Journal Debit Credit Date May 11 Rou 4 of 5 Next > E 252F%252Fbbhosted.cuny.edu%252Fwebapps%252Fport GNMENT Saved Help May 12 May 11 Sydney accepts delivery of $40,000 of merchandise it purchases for resale from Troy invoice dated May 11, terma 3/10, n/90, FOB shipping point. The goods cout Troy $30,000. Sydney pays $345 cash to Express Shipping for delivery charges on the merchandise. Sydney returns $1,400 of the $40,000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had coat Troy $1,050. May 20 Sydney paye 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 Retalling (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 Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet The returned goods had cost Troy $1,050. Record Troy's entry for this transaction. Note: Enter debits before credits General Journal Debit Credit Date May 12 GNMENT 0 Saved May 11 Sydney accepts delivery of $40,000 of merchandise it purchases for resale from Troy: invoice dated May 11, term 3/10, n/90, FOB shipping point. The goods cost Troy $30,000. Sydney pays $345 cash to Express Shipping for delivery charges on the merchandise. May 12 Sydney returns $1,400 of the $40,000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $1,050. 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 Troy Wholesalers (seller) records for these three transactions. View transaction ist Journal entry worksheet Sydney pays Troy for the amount owed. Troy receives the cash immediately. Record Troy's entry for this transaction. Note: Enter debits before credits. General Journal Debit Credit Date May 20