Pequired information Exercise 7.11 (Algo) Unearned revenues-customer deposits LO 3 TThe following infomation applies to the questions disployed belowf Nighwoundstime Brewing Ca distributes its products in an aluminum keg. Customers are charged a deposat of $100 per keg, deposits are recorded in the Keg Deposes account. Exercise 7.11 (Algo) Part c - Horizontal model c.1. A keg use anulyst who works for NghtWoundstime estimates that 325 kegs for which deposits were received during the year wal never be returned. What accounting. if any, would be appropriate for the deposits associated with these kegs? lndicate the finaricial statement ellect. (Enter decreases with a minus sign to indicate a negative financial statement effect). never be retumed. Record the accounting that would be appropriate for the deposits associated with these kegs? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the elimination of the llability for unreturned kegs. Note: Enter deblts before credits, Pequired information Exercise 7.11 (Algo) Unearned revenues-customer deposits LO 3 (The following information applies to the questions displayed beiow) NightWounditime Brewing Co distributes its products in an aluminum keg. Customers are charged a deposit or $100 per. keg: deposits are recorded in the Keg Deposits account. Exercise 7-11 (Algo) Part d - Horizontal model d. Uhe the horgontal modei, demonstrete accourting that would be appropriate for the cost of the kegs that are purchased and used by Nightwoundstime Brewing Company, Inciuding how to account for ianreturned kegs? indicate the finencial statement effect. (Enter decreases with a minus sign to indicate a negstive financial statement effect