Exercise 5-6 (Algo) Record credit sales with a sales allowance (LO5-1, 5-2) On Apri 25, Richards Electric instells wiring in a new home for $2,800 on account. However, on April 27, Richards's electrical work does not pass inspection, and Richards grants the customer an allowance of $530 because of the problem. The customer makes ful payment of the balance owed, excluding the allowance, on Apra 30 . Required: 1. 2.8 . Rocord the journal entries for the above information. 4. Calculate net sales reported in the income statement. Complete this question by entering your answers in the tabs below. Record the journal entries for the above information, (It ne entry is required for a partcular transaction/event, select "Ne Joumal Enter Required" in the first account fieid.) Journal entry worksheet