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Exercise 5-06 a-b The adjusted trial balance of Tsai Company shows the following data pertaining to sales at the end of its fiscal year October 31, 2020: Sales Revenue $820,000, Freight-Out $16,000, Sales Returns and Allowances $25,000, and Sales Discounts $13,000. Prepare the sales section of the income statement. Tsai Company Income Statement (Partial) Prepare separate closing entries for (1) sales revenue, and (2) the contra accounts to sales revenue. (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 o for the amounts.) Debit Credit No. Date Account Titles and Explanation 1. Oct. 31 2. Oct. 31 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT