Tarheel Industries purchased a new printing press to use for printing product information pamphlets. The purchase price for the press was $20,000. Additionally, at the time of the sale Tarheel paid $1,000 to have the press shipped to their facilities (of which $100 was the cost to have the press insured while being shipped), $500 to have the press assembled, and $1,500 for a 5-year maintenance and warranty plan that will cover all routine maintenance and repairs over the next five years. All costs were paid by Tarheel Industries in cash. Tarheel industries expects to use the press for 15 years before selling it as scrap metal for $400.

Which of the following is part of the journal entry that Tarheel Industries will make to record the acquisition of the printing press?