ACCOUNT TITLES ARE APART OF ANSWER NEEDED.

Indigo Corp.sells idle machinery to Enyart Company on July 1, 2020, for $42,000. Indigo agrees to repurchase this equipment from Enyart on June 30, 2021, for a price of $44.940 (an imputed interest rate of 7%). Prepare the journal entry for Indigo for the transfer of the asset to Enyart on July 1, 2020. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. if no entry is required, select "No entry for the account titles and enter for the amounts! Debit Credit Account Titles and Explanation Cash Equipment e Textbook and Media List of Accounts Prepare any other necessary journal entries for Indigo in 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Dec. 31, 2020 e Textbook and Media List of Accounts Prepare the journal entry for Indigo when the machinery is repurchased on June 30, 2021. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. if no entry is required, select "No entry for the account titles and enter for the amounts Debit Credit Date Account Titles and Explanation Jun 30, 2021 (To record interest) (To record payment)