ar to) Requirements rs has collected the following data for the December 31 adjusting entries X 1. Journalize the adjusting entries needed on December 31 for Dillon Fishing Charters. Assume Dillon records adjusting entries only at the end of the year 2. If Dillon had not recorded the adjusting entries, indicate which specific category of accounts on the financial statements would be misstated and if the misstatement is overstated or understated More Info on re a. The company received its electric bill on December 20 for $300 but will not pay it until January 5. (Use the Utilities Payable account) b. Dilon purchased a six-month boat insurance policy on November 1 for $3,000. Dillon recorded a debit to Prepaid Insurance c. As of December 31, Dillon had earned $4,500 of charter revenue that has not been recorded or received. d. Dilon's fishing boat was purchased on January 1 at a cost of $34.000 Dillon expects to use the boat for ten years and that it will have a residual value of $4,000 Determine annual depreciation assuming the straight-line depreciation Done Print method is used On October 1, Dilon received $9,000 prepayment for a deep-sea fishing e. charter to take place in December. As of December 31, Dilon has completed the charter Done Print Check