On March 1, 2020, Sandhill Company sold goods to Goosen Inc. for $612,000 in exchange for a 5-year, zero-interest-bearing note in the face amount of $1,078,553 (an inputed rate of 12%). The goods have an inventory cost on Sandhills books of $380,000. (a) Prepare the journal entries for Sandhill 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 0 for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 1, 2020 Notes Receivable 1078553 Discount on Notes Receivable 466553 Sales Revenue 612000 (To record sales) Cost of Goods Sold 380000 Inventory 380000 (To record cost of goods sold) (b) Prepare the journal entries for Sandhill 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 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Discount on Notes Receivable ??? Interest Revenue ???