LIST OF ACCOUNTS:

Riverbed Corp. follows IFRS and sells its products in expensive, reusable containers that can be tracked. The customer is charged a deposit for each container that is delivered and receives a refund for each container that is returned within two years after the year of delivery. When a container is not returned within the time limit, Riverbed accounts for the container as being sold at the deposit amount and credits the account Container Sales Revenue. Information for 2020 is as follows: Containers held by customers at December 31, 2019, from deliveries in: 2018 $177,300 462,700 2019 $640,000 898.400 Containers delivered in 2020 Containers returned in 2020 from deliveries in: 2018 2019 2020 $119,500 315,500 318,400 753,400 Prepare all journal entries required for Riverbed Corp. for the returnable deposits during 2020. Use the account Refund Liability. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Prepare all journal entries required for Riverbed Corp. for the returnable deposits during 2020. Use the account Refund Liability. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Accounts Receivable 1538400 1538400 Container Sales Revenue (To record deposit from customer) Container Sales Revenue 753400 Accounts Receivable 753400 (To record refund of deposit to customer) Accounts Receivable 57800 Cost of Goods Sold 57800 (To record deposit amount for containers not returned) Cash HST Receivable HST Payable Deposits Accounts Payable Container Sales Revenue No Entry Accounts Receivable Cost of Goods Sold