Question 10 View Policies Current Attempt in Progress Metlock Corp.sells idle machinery to Enyart Company on July 1, 2020, for $33,000. Metlock agrees to repurchase this equipment from Enyart on June 30, 2021, for a price of $34,650 (an imputed interest rate of 5%). Prepare the journal entry for Metlock 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.) Account Titles and Explanation Debit Credit 0 0 (6) Prepare any other necessary journal entries for Metlock 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 Dec. 31, 2020 Debit Credit eTextbook and Media List of Accounts Save for Later Attempts: unlimited Submit Answer (c) Prepare the journal entry for Metlock 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) A A 1202 PM 04 0321/20202