just need 2

2 P9-7 Determining Financial Statement Effects of Deferred Revenues LO9-1 10 points A. Deferred revenues-customer deposits Eastern Brewing Company (EBC) distributes its products in an aluminum keg. Customers are charged a deposit of $34 per keg. and deposits received from customers are recorded in the keg deposits account Required: 1. This part of the question is not part of your Connect assignment. 2. A production specialist who works for EBC estimates that 40 kegs for which deposits were received during the year will never be returned. How would the deposits related to these 40 kegs be reflected in the company's financial statements? Of no entry is required for a transaction/event, select "No journal entry required in the first account field.) Print References View transaction lit View journal entry worksheet No Transaction General Journal Det Cr 1 A Keg deposits Revenue from deposits 1,360 1,360 Print References 2. If the amount received on September 1 year 1, had covered a period of 18 months, how should Noreen report the deferred rent amount on its statement of financial position as at December 31, year 1? Statement of financial position Year 1 Current liability Noncurrent liability