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2 (1.5 points) PZF ltd. had gross sales of $300,000 on credit during October. Sales returns and allowances were $5,000, and Cash discounts granted were

2 (1.5 points) PZF ltd. had gross sales of $300,000 on credit during October. Sales returns and allowances were $5,000, and Cash discounts granted were $28,000. Required: (Solve this exercise on the reserved space from the ANSWER SHEET) a) Prepare a detailed presentation of the revenue section of the income statement. (0.75 points) b) Show the journal entries. Assume the appropriate amount of receivables it is collected. (0.75 points)image text in transcribed

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