On March 1, 2017, Concord Company sold goods to Goosen Inc. for $714,000 in exchange for a S-year, zero-interest-bearing note in the face amount of $1,203,132 (an inputed rate of 11%). The goods have an inventory cost on Concord's books of $424,000 (a) Prepare the journal entries for Concord on March 1, 2017. (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 O for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 1, 2017 To record sales) To record cost of goods sold) (b) Prepare the journal entries for Concord on December 31, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. It no entry is required, select "No entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017