Homework: Chapter 3 Homework Score: 051 of 4 pts HW Score: 43 5 P3-34A (similar to) Read the requirements on January 1 at a cost of $74,600 Henderson expects to use the boat for ten years and that it wil have a residual value of $4,600 More Info (d) Dec 31 pay iR undl January 5 (Use the Uhilities Payable account ) boat insurance pollicy on November 1 for b. Henderson purchased a e, As of d. Henderson's fishing boat was purchased gn January 1 at a cost of 574 600 53 600 01 Henderson had earned S 1.500 of charter revenue tat value of 54.600 Detemine annual depreciation assuming the straight-ine depreciation method is used