Question $2$ of $5$

$\frac{7\mathrm{.}5}{20}$

Flint Company sells goods to Danone Inc. by accepting a note receivable on January $2,2020.$ The goods have a sales price of $ $($cost of $$470,000).$ The terms are net $30.$ If Danone pays within $5$ days, however, it receives a cash discount of $$9,600.$ Past his indicates that the cash discount will be taken. On January $28,2020,$ Danone makes payment to Flint for the full sales price.

$($a$)$

Your answer is partially correct.

Prepare the journal entry$($ies$)$ to record the sale and related cost of goods sold for Flint Company on January $2,2020,$ and th payment on January $28,2020.$ Assume that Flint Company records the January $2,2020,$ transaction using the net method. account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No entn the account titles and enter $0$ for the amounts.$)$

$\backslash$table$[[$Ite$,$Account Titles and Explanation$],[,]]$

Debit

Credit

$$

$($To record sales$)$

$$