Learning Objectives 3,5 P3-34A Journalizing adjusting entries and identifying the impact on financial statements Griffin Fishing Charters has collected the following data for the December 31 adjusting entries a. The company received its electric bill on December 31 for $375 but will not pay it until January 5. (Use the Utilities Payable account.) b. Griffin purchased a three-month boat insurance policy on November 1 for c. As of December 31, Griffin had earned $3,000 of charter revenue that has not d. Griffin's fishing boat was purchased on January 1 at a cost of $33,500. Griffin $1,200. Griffin recorded a debit to Prepaid Insurance. been recorded or received. expects to use the boat for 10 years and that it will have a residual value of $3,500. Determine annual depreciation assuming the straight-line depreciation method is used. e. On October 1, Griffin received $9,000 prepayment for a deep-sea fishing charter to take place in December. As of December 31, Griffin has completed the charter. Reauirements ious Learning Objectives 3,5 P3-34A Journalizing adjusting entries and identifying the impact on financial statements Griffin Fishing Charters has collected the following data for the December 31 adjusting entries a. The company received its electric bill on December 31 for $375 but will not pay it until January 5. (Use the Utilities Payable account.) b. Griffin purchased a three-month boat insurance policy on November 1 for c. As of December 31, Griffin had earned $3,000 of charter revenue that has not d. Griffin's fishing boat was purchased on January 1 at a cost of $33,500. Griffin $1,200. Griffin recorded a debit to Prepaid Insurance. been recorded or received. expects to use the boat for 10 years and that it will have a residual value of $3,500. Determine annual depreciation assuming the straight-line depreciation method is used. e. On October 1, Griffin received $9,000 prepayment for a deep-sea fishing charter to take place in December. As of December 31, Griffin has completed the charter. Reauirements ious