Carla Vista Corp. sells idle machinery to Hollis Company on July $1,2025,$ for $$98,000.$ Carla Vista agrees to repurchase this equipment from Hollis on June $30,2026,$ for a price of $$103,880($an imputed interest rate of $6\%).$

$($a$)$

Prepare the journal entry for Carla Vista for the transfer of the asset to Hollis on July $1,2025.($List debit entry before credit entry. 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.$)$

$\backslash$table$[[$Date Account Titles and Explanation Credit$],[$July $1,],[2025]]$