Save Answer Assume that for all questions, the company's year-end is 12/31. 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: Present value of Present value of Present value of Future Value of 1 1.33823 Future value of an ordinary annuity 5.63709 DI 1 an ordinary annuity 4.21236 an annuity due 4.46511 i 5 0.74726 6% COPY QUESTIONS 1 - 4; ANSWER IN THE FORMAT PROVIDED. 1. Prepare the journal entry for XYZ to record the sale of the equipment on 9/30/21. (9 pts) Account Title Debit Credit an an Future Value of 1 1.33823 Present value of 1 0.74726 ordinary annuity 5.63709 an ordinary annuity 4.21236 5 annuity due 4.46511 1 6% COPY QUESTIONS 1 - 4; ANSWER IN THE FORMAT PROVIDED. 1. Prepare the journal entry for XYZ to record the sale of the equipment on 9/30/21. (9 pts) Account Title Debit Credit 2. Prepare the journal entry(s) for XYZ for year ended 12/31/22, if any, associated with this sale of the equipment (3 pts) Account Title Debit Credit 2. Prepare the journal entry(s) for XYZ for year ended 12/31/22, if any, associated with this sale of the equipment (3 pts) Account Title Debit Credit 3. Prepare the entry for the receipt of payment on 9/30/2023 for XYZ if The company does not use reversing entries. (3pts) Account Title Debit Credit 4. Prepare the journal entry for ABC to record the purchase of the equipment on 9/30/21. (5pts) Debit Credit 3. Prepare the entry for the receipt of payment on 9/30/2023 for XYZ if the company does not use reversing entries. (3pts) Account Title Debit Credit 4. Prepare the journal entry for ABC to record the purchase of the equipment on 9/30/21. (5pts) Debit Credit Account Title