Reem company sells goods that have a cost of $300,000 to Sama company for $850,000, with payment due in 1 year. The cash price for these goods is $720,000, with payment due in 30 days. If Sama's company paid immediately upon delivery, it would receive a cash discount of $20,000.

A)Prepare the journal entry to record this transaction at the date of sale (show the calculation).

B)How much revenue should Reem report for the entire year