The adjusted trial balance of Crane Company shows the following data pertaining to sales at the end of its fiscal year, October 31, 2020: Sales Revenue $808,400, Delivery Expense $11,930, Sales Returns and Allowances $22,790, and Sales Discounts $12,350.

Part 1

Prepare the revenues section of the income statement.

CRANE COMPANY Income Statement

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	$

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eTextbook and Media

List of Accounts

Attempts: 0 of 3 used

Part 2

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.
2.