On March 1, 2025, Sunland Company sold goods to Sandhill Inc. for $666,000 in exchange for...

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On March 1, 2025, Sunland Company sold goods to Sandhill Inc. for $666,000 in exchange for a 5-year, zero-interest-bearing note in the face amount of $1,072,600 (an imputed rate of 10%). The goods have an inventory cost on Sunland's books of $437,000. (a1) Prepare the journal entries for Sunland on March 1, 2025. (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. List all debit entries before credit entries.) Date March 1, 2025 Account Titles and Explanation March 1, 2025 (To record sales) (To record cost of goods sold) Debit Credit On March 1, 2025, Sunland Company sold goods to Sandhill Inc. for $666,000 in exchange for a 5-year, zero-interest-bearing note in the face amount of $1,072,600 (an imputed rate of 10%). The goods have an inventory cost on Sunland's books of $437,000. (a1) Prepare the journal entries for Sunland on March 1, 2025. (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. List all debit entries before credit entries.) Date March 1, 2025 Account Titles and Explanation March 1, 2025 (To record sales) (To record cost of goods sold) Debit Credit