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Wright Fishing Charters has collected the following data for the 30 June adjusting entries: a. the company received an electricity bill on 19 June for

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Wright Fishing Charters has collected the following data for the 30 June adjusting entries: a. the company received an electricity bill on 19 June for $225 but will not pay it until 5 July. No entry was recorded on 19 June. b. Wright purchased a nine-month boat insurence policy on 1 May for $9000. Wright recorded a debit to prepaid insurance. c. As of 30 June, Wright had earned $1000 of charter revenue that has not been recorded or received. d. Wright's fishing boat was purchased on 1 July of the previous year at a cost of $44500. Depreciation expense is 8000 per year. e. On 1 April, Wright received $8000 prepayment for a deep-sea fishing charter to take place in June. As of 30 June, wright has completed the charter. If Wright had not recorded the adjusting entries, liabilities will be overstated by

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