Recording Revenue Under Different Repurchase Agreements On January 1, 2020, Miller Inc. sells equipment to Smith Inc. for $99,000. As stipulated in the revenue contract, Miller Inc. will buy back the equipment on December 31, 2020, for $105,930. The relevant interest rate is 7% a. Prepare the seller's journal entry on January 1, 2020. Account Name Dr. Date Jan. 1, 2020 b. Prepare the seller's journal entry on Decemb Date Account Name Dr. Dec. 31, 2020 To recognize interest. Dec. 31, 2020 To record payment. c. Assume instead that Miller has the option to buy back the equipment and the fair value of the equipment is expected to decline through 2020. How would the answers to parts a and b change (if at all)? Date Account Name Dr. Jan. 1, 2020 > Dec 31, 2020 > To recognize interest. Dec 31, 2020 > To record payment d. Assume instead that Smith has the option to the expected market value of the equipment at Date Account Name Dr. Jan. 1, 2020 Dec 31, 2020 . To record interest. Dec 31, 2020 To record payment. Please answer all parts of the