The adjusted trial balance of Bonita Company shows the following data pertaining to sales at the end of its fiscal year, October 31, 2020: Sales Revenue $878,400, Delivery Expense $11,640, Sales Returns and Allowances $25,140, and Sales Discounts $12,970.

Prepare the revenues section of the income statement. BONITA COMPANY Income Statement A V a {- 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 0 for the amounts.) No. Account Titles and Explanation Debit Credit 1