Help Save & Exit Diversified Semiconductors sells perishable electronic components. Some must be shipped and stored in reusable protective containers. Customers pay a deposit for each container received. The deposit is equal to the container's cost. They receive a ref when the container is returned. During 2018, deposits collected on containers shipped were $889,000. Deposits are forfeited if containers are not returned within 18 months. Containers held by customers at January 1, 2018, represen deposits of $533,000. In 2018, S824,000 was refunded and deposits forfeited were $55,500 Required: 1. Prepare the appropriate journal entries for the deposits received and returned during 2018. 2. Determine the liability for refundable deposits to be reported on the December 31, 2018, balance sheet Complete this question by entering your answers in the tabs below. 5 Required 1 Required 2 Prepare the appropriate journal entries for the deposits received and returned during 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 Prepare the appropriate joumal entries for the deposits received and returned during 2018. (If no ent transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 1 2 3 > Record the deposits collected. Note: Enter debits before credits. Event General Journal Debit Credit 1 your answers in the tabs below. Required 1 Required 2 Prepare the appropriate journal entries for the deposits received and returned during 2018. (If no entry is req transaction/event, select "No journal entry required in the first account field.) View transaction list ok Journal entry worksheet