Bramble Corp. sells idle machinery to Cullumber Company on July 1, 2020, for $ 42,000. Bramble agrees to repurchase this equipment from Cullumber on June 30, 2021, for a price of $ 44,520 (an imputed interest rate of 6%).

1) Prepare the journal entry for Bramble for the receipt of cash from Cullumber 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 0 for the amounts.)

2)Prepare any other necessary journal entry for Bramble 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 0 for the amounts.)

3)Prepare the journal entries for Bramble 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 0 for the amounts.)

- / 10 View Policies Current Attempt in Progress Bramble Corp. sells idle machinery to Cullumber Company on July 1, 2020, for $ 42,000. Bramble agrees to repurchase this equipment from Cullumber on June 30, 2021, for a price of $ 44,520 (an imputed interest rate of 6%). Prepare the journal entry for Bramble for the receipt of cash from Cullumber 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. Date Account Titles and Explanation Debit Credit July 1, 2020 e Textbook and Media List of Accounts Prepare any other necessary journal entry for Bramble 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.) Lab 4 Question 8 of 10 - / 10 List of Accounts Prepare any other necessary journal entry for Bramble 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.) Date Account Titles and Explanation Debit Credit December 31, 2020 e Textbook and Media List of Accounts Prepare the journal entries for Bramble when the machinery is repurchased on June 30, 2021. (Credit account titles are urad calact "Alo Ent for Lab 4 Question 8 of 10 - / 10 Prepare the journal entries for Bramble 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 o for the amounts.) Date Account Titles and Explanation Debit Credit June 30. 2021 (To record interest expense) June 30, 2021 (To record repayment) e Textbook and Media List of Accounts