Question 6 of 34 75 E Whispering Winds Corp. sells idle machinery to Pharoah Company on July 1, 2020, for $84,000. Whispering Winds agrees to repurchase this equipment from Pharoah on June 30, 2021, for a price of $89,040 (an imputed interest rate of 6%). Prepare the journal entry for Whispering Winds for the receipt of cash from Pharoah on July 1, 2020. (Credit occount 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 Date July 1, 2020 Credit List of Accounts Prepare any other necessary journal entry for Whispering Winds 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 O for the amounts) Date Account Titles and Explanation Debit Credit Question 6 of 34 -75 E December 31, 2020 List of Accounts Prepare the journal entries for Whispering Winds 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) Date June Account Titles and Explanation Debit Credit 30, 2021 (To record interest expense) June 30, 2021 O Type here to search