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PF3-3 Question He - X More Info Taylor Fishing i (Click the Read the regy Requirement at the end of a. The company received its electric bill on December 20 for $230 but will not pay it until January 5. (Use the Utilities Payable account) b. Taylor purchased a nine-month boat insurance policy on November 1 for $6,300 Taylor recorded a debit to Prepaid Insurance. c. As of December 31, Taylor had earned $2,200 of charter revenue that has not been recorded or received d. Taylor's fishing boat was purchased on January 1 at a cost of $57,500. Taylor expects to use the boat for five years and that it will have a residual value of $2,500 Determine annual depreciation assuming the straight-line depreciation method is used e. On October 1, Taylor received $3,000 prepayment for a doop-sea fishing charter to take place in December. As of December 31, Taylor has completed the charter me Taylor records adjusting entry table.) Utilities Payable account) a. The compa Date (a) Dec 31 10 Print Done b. Taylor purd to Prepaid Insurance Date Debit Credit Accounts and Explanation Insurance Expense Prepaid Insurance (b) Doc31 6300 6300 To record insurance expense