Sheridan Corp. sells idle machinery to Carla Vista Company on July 1,2025 , for $33,000. Sheridan agrees to repurchase this equipment from Carla Vista on June 30,2026 , for a price of $34,320 (an imputed interest rate of 4% ). (a) Your answer is correct. Prepare the journal entry for Sheridan for the transfer of the asset to Carla Vista on July 1,2025. (Credit occount titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the occount titles and enter 0 for the amounts. List debit entry before credit entry.) Prepare the journal entry for Sheridan when the machinery is repurchased on June 30, 2026. (Credit account titles are outomatically 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. List all debit entries before credit entrles.)