On March 1, 2020, Pharoah Company sold goods to Goosen Inc. for $594,000 in exchange for a 5-year, zero-interest-bearing note in the face amount of $1,000,925 (an inputed rate of 11%). The goods have an inventory cost on Pharoah's books of $367,000. (a) Prepare the journal entries for Pharoah 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 O for the amounts.) Debit Credit Date Account Titles and Explanation Mar. 1, 2020 (To record sales) (To record cost of goods sold) (b) Prepare the journal entries for Pharoah 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.) Account Titles and Explanation Debit Credit Date Dec 31, 2020