P9-7 Determining Financial Statement Effects of Deferred Revenues L09-1 A. Deferred revenues-customer deposits Eastern Brewing Company (EBC) distributes its products in an aluminum keg. Customers are charged a deposit of $40 per keg, and deposits received from customers are recorded in the keg deposits account Required: signment 8 - Chapter 9 0 C. Deferred revenues-subscription fees Tremblay Inc, publishes a monthly newsletter for retail marketing managers and requires its subscribers to pay $48 in advance for a one-year subscription. During the month of April of the current year, Tremblay Inc. sold 130 one-year subscriptions and received payments in advance from all new subscribers. Only 44 of the new subscribers paid their fees in time to receive the April newsletter The other subscribers received the newsletter in May, Required: Prepare journal entries to record the subscription fees received in advance during April of the current year, and the related adjusting entry to recognize the subscription revenue earned during April of the current year. (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 2 Record the receipt of one-year subscriptions from 130 customers Note: Enter debits before credits General Journal Debit Credit Date April Recorder Clear entry View general journal