Buffalo Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The goods have a sales price of $609,400 (cost of $530,000). The terms are net 30. If Danone pays within 5 days, however, it receives a cash discount of $9,400. Past history indicates that the cash discount will be taken. On January 28, 2020, Danone makes payment to Buffalo for the full sales price. (a) Your answer is partially correct. Prepare the journal entrylies) to record the sale and related cost of goods sold for Buffalo Company on January 2, 2020, and the payment on January 28, 2020. Assume that Buffalo 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.) ite Debit Credit Account Titles and Explanation Notes Receivable 020 600000 600000 Sales Revenue (To record sales) Cost of Goods Sold 530000 Inventory 530000 (To record cost of goods sold) 2020 Cash 530000 Notes Receivable 600000 9400 Sales Discounts Forfeited (To record payment received)