Part A: On September 30, 2021, XYZ Corporation (an equipment manufacturer) sold equipment that cost $150,000 to ABC Company (a construction company). The agreement stipulated that ABC would pay a down payment of $75,000 and make five payments of $50,000 (including interest) annually on September 30. The first note payment is to be made on September 30, 2022. Assuming that a prevailing interest rate of 6% applies to this contract:

n	Future Value of 1	Present value of 1	Future value of an ordinary annuity	Present value of an ordinary annuity	Present value of an annuity due	i
5	1.33823	0.74726	5.63709	4.21236	4.46511	6%

1. Prepare the journal entry for XYZ to record the sale of the equipment on 9/30/21

2. Prepare the journal entry(s) for XYZ for year ended 12/31/22, if any, associated with this sale of the equipment
3. Prepare the journal entry(s) for XYZ for year ended 12/31/22, if any, associated with this sale of the equipment

4. Prepare the journal entry for ABC to record the purchase of the equipment on 9/30/21.