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Prepare the revenues section of the income statement. SKYSONG COMPANY Income Statement October 31, 2020 Sales Revenue 844700 Sales Returns and Allowances 23680 Sales Discounts

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Prepare the revenues section of the income statement. SKYSONG COMPANY Income Statement October 31, 2020 Sales Revenue 844700 Sales Returns and Allowances 23680 Sales Discounts 12980 36660 Net Sales BOBDO Prepare separate closing entries for (1) sales and (2) the contra accounts to sales. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter for the amounts No. Account Titles and Explanation Debit Credit 2

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