Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions May 11 Sydney accepts deliv

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Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions May 11 Sydney accepts deliv

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Sydney Retailing Buyer And Troy Wholesalers Seller Enter Into The Following Transactions May 11 Sydney Accepts Deliv 1
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Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions May 11 Sydney accepts delivery of $34,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/16, n/90, FOB shipping point. The goods cost Troy $23,115. Sydney pays $400 cash to Express Shipping for delivery charges on the merchandise. May 12 Sydney returns $1,200 of the $34,500 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $884. May 20 Sydney pays Troy for the amount owed. Troy receives the cash inmediately. (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 2 3 Date May 11 Sydney accepts delivery of $34,500 of merchandise it purchases for resale from Troy: Invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $23,115. Record Sydney's entry for this transaction. Note: Enter debits before credits. 4 General Journal Seved Debit Credit

Journal entry worksheet < 1 2 3 Sydney pays $400 cash to Express Shipping for delivery charges on the merchandise. Record Sydney's entry for this transaction. Note: Enter debits before credits. Date May 11 General Journal Debit Credit < Prev

Journal entry worksheet < 1 2 3 Date May 12 Sydney returns $1,200 of the $34,500 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $804. Record Sydney's entry for this transaction. Note: Enter debits before credits. 4 General Journal Debit Credit

Journal entry worksheet < 1 2 3 Date May 20 Note: Enter debits before credits. 4 Sydney pays Troy for the amount owed. Troy receives the cash immediately. Record Sydney's entry for this transaction. General Journal 4 Debit Credit

Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet K 1 2 3 Date May 11 Note: Enter debits before credits. 5 Sydney accepts delivery of $34,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $23,115. Record Troy's entry for this transaction. abs below. General Journal Debit Credit Pre

Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet 2 The goods cost Troy $23,115. Record Troy's entry for this transaction. Note: Enter debits before credits. Date May 11 General Journal Debit Credit D

Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet N 3 Date May 12 Sydney returns $1,200 of the $34,500 of goods to Troy, who receives them the same day and restores them to its inventory. Record Troy's entry for this transaction. Note: Enter debits before credits. 4 General Journal Debit Credit >

Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet your answers in the tabs below. 2 Note: Enter debits before credits. Date May 12 The returned goods had cost Troy $804. Record Troy's entry for this transaction. 5 General Journal, Debit Credit < Prev 14 of 33

Required 1 Required 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. View transaction list Journal entry worksheet 2 3 Date May 20 Sydney pays Troy for the amount owed. Troy receives the cash immediately. Record Troy's entry for this transaction. Note: Enter debits before credits. 5 General Journal Debit Credit > 14 of 33
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