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 from troy: invoice dated may 11: terms 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.12 sydney returns $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 cost troy $1,050.20 sydney pays troy for the amount owed. troy receives the cash immediately.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.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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