P9-7 Determine Financial Statements Effects of Deferred Revenues L09-1

P9-7 Determining Financial Statement Effects of Deferred Revenues LO9-1 A. Deferred revenues-customer deposits Eastern Brewing Company (EBC) distributes its products in an aluminum keg. Customers are charged a deposit of $27 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 60 kegs for which deposits were received during the year will never be returned. How would the deposits related to these 60 kegs be reflected in the company's financial statements? (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 Record the receipt of one-year subscriptions from 145 customers, Note: Enter debits before credits General Journal Date April Debit Credit Record entry Clear entry View general