Q5. On December 31, 2023, XYZ Co. sold inventory that cost $120.000 to ABC Company for a note requiring three payments of $80,000 (including interest) annually on December 31. The first payment is to be made on December 31, 2023. Assuming that a market interest rate of 5% applies to this contract: 3 C Future Value of 1 Future value of Present value of 1 an ordinary annuity Present value of Present value an ordinary annuity of an annuity due 1.15763 0.86384 3.15250 2.72325 1. Prepare the journal entry to recard XYZ's sale of inventory on 12/31/23. 2.85941 5%