FOR QUESTIONS 19-25 BELOW, PREPARE THE JOURNAL ENTRY/ENTRIES REQUIRED IN THE SPACE PROVIDED. Journal Entries 19. Equipment was purchased on account for $20,000. In addition, installation cost of $100 and freight of $150 pertaining to the acquisition of the equipment was purchased on account. How would you record this entry? 20. The Prepaid Rent account shows a debit balance of $6,500 on December 31. Of the $6,500, only 5500 is applicable to the next year. Our year-end adjustment journal entry would be: 21. The company has a fiscal year-end of June 30. A $5,000 bonus for the year, to be paid in July, must be recorded on the books. Prepare the entry required. I 22. Prepare the journal entry to record depreciation expense of $500 on a piece of equipment