xyz company has an accounts payable of $$120,000$ from inventory purchased in the previous month on account. instead of payig off it's $120,000$ liability when due this month, XYZ Company has worked out a deal with their venodr to convert their current liability into a long lertn note payable in which the vendor will earn $2\%$ interest. What journal entry is required to convert the liabliities within XYZ Company's records on the daye of the deal?