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Please help me out with the solutions I got wrong ...

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Accounting

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Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions. May 11 Sydney accepts delivery of $40,000 of merchandise it purchases for resale fron Troy: invoice dated May 11, teras 3/10,n/90, F0B shipping point. The goods cost Troy $30,000. Sydney pays $345 cash to Express Shippting for delivery charges on the merchandise. May 12 Sydney returns $1,40e of the $40,000 of goods to Troy, who receives then the same day and restores then to its inventory. The returned goods had cost Troy \$1,05e. May 20 Sydney pays Troy for the anount 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. Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. Complete this question by entering your answers in the tabs below. Prepare journal entriks that Troy Wholesalers (seller) records for these three transactions

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