PART THREE Record the following business transactions: On January 15, 2015, $150 worth of supplies were purchased for $70 cash, the rest on account from True Value Hardware. Later that month on January 31st the amount owed to True Value Hardware was paid. On February 28, 2015 the annual premium for the liability insurance policy was paid in full, in the amount of $24,000. The policy term is February 1, 2015 to January 31,2016. June 130 is the employee picnic, the festivities total $1,200. The bill is paid that day July 5,2015 a new delivery vehicle is purchased for $39,000, it is expected that this vehicle will last 10 years and have a salvage value of $4,000. Record the purchase of the vehicle and the depreciation for 2015. Assume you have taken out a loan to pay for the purchase of the vehicle; assume the straight line depreciation method The first loan payment for the delivery vehicle is made on August 1, 2015 in the amount of $461.89