Cambria Limited took a $$360,000$ two$-$year note receivable from a customer in connection with a major inventory sale transaction on $1$ January $20$X$5.$ The note required annual end$-$of$-$year interest payments of $4\%,$ and the principal was due at the end of $20$X$6.$

$($PV of $$1,$ PVA of $$1,$ and PVAD of $$1.)($Use appropriate factor$($s$)$ from the tables provided.$)$

$5.$ Prepare journal entries to record the initial sale transaction and each payment on the books of the customer who bought inventory and owes the note