On April 25, Kerrytown Electric installs wiring in a new home for $1,500 on account. However, on April 27, Kerrytowns electrical work does not pass inspection, and Kerrytown grants the customer an allowance of $400 because of the problem. The customer makes full payment of the balance owed, excluding the allowance, on April 30. Required: 1. 2. & 3. Record the journal entries for the above information. 4. Calculate net sales reported in the income statement