On March 1, 2020, Cullumber Company sold goods to Goosen Inc for $726,000 in exchange for a 5-year, zero-interest-bearing note in the face amount of $1,169,230 (an inputed rate of 10%). The goods have an inventory cost on Cullumber's books of $389,000 (a) Prepare the journal entries for Cullumber on March 1, 2020. (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 Mar. 1, 2020 Notes Receivable 1169230 Discount on Notes Receivable 443230 Sales Revenue 726000 (To record sales) Cost of Goods Sold 389000 Inventory 389000 (To record cost of goods sold) (b) Prepare the journal entries for Cullumber on December 31, 2020. (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 Dec 31 2020 Discount on Notes Receivable 389000 Interest Revenue