Enter each financial transaction into a general journal. - show whats needs to be debited and credited

19. A pick-up truck was purchased for $30,000. Cash payment of $2,000 with the balance financed at 0% interest rate for four years. (Expected life usage is 5000 hours with 1000 hours operation per year.) 20. The short term portion of the pick-up truck financing was recorded. Assume principle was paid equally over the 4 years. 21. Monthly payment is made on the pick-up truck which included principle ($583). 22. Purchased an insurance policy with a one-year coverage term in the amount of $1,800 in cash. 23. The expiration of insurance for the month was recorded. 24. Payroll disbursement was made for office wages $20,000. 25. Payroll disbursement was made for salaries $40,000