Sheridan Company sells goods to Carla Vista Inc. by accepting a note receivable on Jan $2,2025.$ The goods have a sales price of $$619,{600}_{?}$

$($cost of $$470,000).$ The terms are net $30.$ If Carla Vista pays within $5$ days, however, it receives a cash discount of $$9,600.$ Past history indicates

that the cash discount will be taken. On Jan $28,2025,$ Carla Vista makes payment to Sheridan for the full sales price.

$($b$)$ Prepare the journal entries to record the sale and related cost of goods sold for Sheridan company on January $2,$

$($b$)2025,$ and the payment on January $28,2025.$ Assume that Sheridan Company records the January $2,2025,$

transaction using the gross method.

$($To record sales$)$

$($To record cost of goods sold$)$