Pharoah Corp. sells idle machinery to Carla Vista Company on July $1,2023,$ for $\backslash (\backslash$$ $93,000\backslash ).$ Pharoah agrees to repurchase this equipment from Carla Vista on June $30,2024,$ for a price of $\backslash$$$98,580($an imputed interest rate of $6\backslash \%).$

$($a$)$

Prepare the journal entry for Pharoah for the receipt of cash from Carla Vista on July $1,2023.($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. List debit entry before credit entry.$)$