Bridgeport Corp. sells idle machinery to Enyart Company on July 1, 2017, for $31,000. Bridgeport agrees to repurchase this equipment from Enyart on June 30, 2018, for a price of $33,170 (an imputed interest rate of 7%).

Prepare the journal entry for Bridgeport for the transfer of the asset to Enyart on July 1, 2017. (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.)

Prepare any other necessary journal entries for Bridgeport in 2017. (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.)

Prepare the journal entry for Bridgeport when the machinery is repurchased on June 30, 2018. (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.