Changing framrate from 120fps to 24fps (no Slo-Mo)

So lately I discovered my passion for shooting and editing videos.

I'm new to Final Cut, so everything is pretty much super difficult at this point. Although it's still much easier than I expected :)

I'm in love with 24fps and I decided I'm never gonna use a higher framerate. However, sometimes I like to use the slo-mo effect (which I'm recording at 120fps - as of today, that's enough for me)

Now, the best solution for me would be to record all my videos in 120fps and change the frame rate to 24fps in Final Cut. I assumed that it should be possible to do without any problems and loss of quality as 120/24=5.

Now, I know how to make a slo-mo (x0.2) video from a 120fps source file, but I have no idea how to convert a 120fps file to the regular speed video at 24fps. Should I just start with a 24fps file in the beginning and fcpx will do the rest for me? Or is there a better way?

I will really appreciate your input guys.

Thanks,

Adam