- / 15 Question 12 of 14 IN Pharoah Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The goods have a sales price of $639,300 (cost of $450,000). The terms are net 30. If Danone pays within 5 days, however, it receives a cash discount of $9,300. Past history indicates that the cash discount will be taken. On January 28, 2020. Danone makes payment to Pharoah for the full sales price Prepare the journal entrylies) to record the sale and related cost of goods sold for Pharoah Company on January 2 2020, and the payment on January 28, 2020. Assume that Pharoah Company records the January 2 2020, transaction using the net method. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold) (To record payment received) eTextbook and Media