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Brief Exercise 18-10 On March 1, 2017, Martinez Company Sold goods to Goosen Inc. for $648,000 in exchange for a 5-year, zero interest bearing note in the face amount of $1,043,610 (an inputed rate of 10%). The goods have an inventory coston Martin's books of $410,000. (a) Prepare the journal entries for Martinez on March 1, 2017. (Credit account titles are automatically indented when the amount is entered. Do not let m no entry is required select No entry for the account titles and enter for the amounts) Date y Account Titles and Explanation Debit Mar 1, 2017 Credit (Te record sales (To record cost of goods sold) (b) Prepare the journal entries for Martinez on December 31, 2017. (Credit account titles are automatically indented when the amount istened. Do not indent many. I try is required select No entry for the accountities and enter for the amounts) Account Titles and Explanation Date Dec. 31. 2017 Debit Credit cach ^44 2/13/2013 (To record cost of goods sold) (b) Prepare the journal entries for Martinez on December 31, 2017. (Credit account titles are automatically indented when the amount is entered. Do not antally. If no entry is required, select No entry for the account titles and enter for the amounts.) det Date Account Titles and Explanation Debit Credit Dec 31, 2017 SHOW LIST OF ACCOUNTS Question Attempts: 0 of 10 used

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