Homework: Chapter 03 Homework b Score: 1.67 of 2 pts HW Score: 27 88%, 167 of 6 pts ts emaining Next c. As of December 31, Watson had earned $3,500 of charter revenue that has not been recorded or received. d. Watson's fishing boat was purchased on January 1 at a cost of $38,500 pleted the Watson expects to use the boat for ten years and that it will have a residual value of $3,500. Determine annual depreciation assuming the straight-ine depreciation method is used e. On October 1, Watson received $8,500 prepayment for a deep-sea fishing charter to take place in December. As of December 31, Watson has completed the charter. PrintDone Links A