Sunland Corp. sells idle machinery to Sandhill Company on July 1, 2025, for $31.000. Sunland agrees...

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Sunland Corp. sells idle machinery to Sandhill Company on July 1, 2025, for $31.000. Sunland agrees to repurchase this equipment from Sandhill on June 30, 2026, for a price of $33.170 (an imputed interest rate of 7%). (c) Prepare the journal entry for Sunland when the machinery is repurchased on June 30, 2026. (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 all debit entries before credit entries) Date June 30, 2026 June 30,2026 Account Titles and Explanation (To record interest) (To record payment) Debit Credit Sunland Corp. sells idle machinery to Sandhill Company on July 1, 2025, for $31.000. Sunland agrees to repurchase this equipment from Sandhill on June 30, 2026, for a price of $33.170 (an imputed interest rate of 7%). (c) Prepare the journal entry for Sunland when the machinery is repurchased on June 30, 2026. (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 all debit entries before credit entries) Date June 30, 2026 June 30,2026 Account Titles and Explanation (To record interest) (To record payment) Debit Credit