compatibility Mode - Word Search Mailings Review View Help Aa A A1 AaBbcc AaBbc AaBbcel AaBbCd AaBbCD AaBbc Emphasis Heading 1 1 Normal Strong Subtitle Title Paragraph Style Installment Sale ABC Company sells a building to XYZ on 01/01/2016. The sales price is $500,000. XYZ is to make a $50,000 down payment and pay for the remainder over 10 years. The stated interest rate of 8% is reasonable and the payments must be made quarterly. ABC had paid $475,000 for the building and taken $95.000 in depreciation before the sale. Calculate the quarterly installment payments. Prepare ABC's journal entry to record the sale on 01/01/2016. Prepare XYZ's journal entry to record the first quarterly payment on 04/01/2016. Prepare XYZ's joumal entry to record the second quarterly payment on 07/01/2016 OLE