Cullumber University Student Housing Inc. requires all tenants to pay a $$530$ security deposit, which will be returned at the end of the lease, less any repair costs on the apartment. Cullumber rented $265$ apartments in the current month. Prepare the entry to record the security deposits collected. $($If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit