Exercise $5-6($Algo$)$ Record credit sales with a sales allowance $($LO$5-1,5-2)$

On April $25,$ Richards Electric installs wiring in a new home.for $$2,500$ on account. However, on April $27,$ Richards's electrical work does not pass inspection, and Richards grants the customer an allowance of $$500$ because of the problem. The customer makes full payment of the balance owed, excluding the allowance, on April $30.$

Required:

& $3.$ Record the journal entries for the above information.

Calculate net sales reported in the income statement.

Complete this question by entering your answers in the tabs below.

Req $1$ and $2$ and $3$

Record the journal entries for the above information. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$1$

$2$

$3$