please be clear and organized on answers all parts to this question please. I will upvote

Exercise 13-7 (Static) Customer deposits; financial statement effects [LO13-3] Diversified Semiconductors sells perishable electronic components. Some must be shipped and stored in reusable protective containers. Customers pay a deposit for each container received. The deposit is equal to the container's cost. They receive a refund when the container is returned. During 2024 , deposits collected on containers shipped wer $850,000. Deposits are forfeited if containers are not returned within 18 months. Containers held by customers at January 1,2024 , represented deposits of $530,000. In 2024,$790,000 was refunded and deposits orfeited were $35,000. Required: 1. Prepare the appropriate journal entries for the deposits received, returned, and forfeited during 2024. 2. Determine the liability for refundable deposits to be reported on the December 31,2024 , balance sheet. Complete this question by entering your answers in the tabs below. Prepare the appropriate journal entries for the deposits received, returned, and forfeited during 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Prepare the appropriate journal entries for the deposits received, returned, and forfeited during Note: If no entry is required for a transaction/event, select "No journal entry required" in the fi Journal entry worksheet 1 Record the containers returned. Note: Enter debits before credits. Prepare the appropriate journal entries for the deposits received, returned, and forfeited during 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first acco Journal entry worksheet Record the deposits forfeited - record revenue. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare the appropriate journal entries for the deposits received, returned, and forfeited during 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fielc Journal entry worksheet Record the deposits forfeited - adjust inventory. Note: Enter debits before credits. Diversified Semiconductors sells perishable electronic components. Some must be shipped and stored in reusable protective containers. Customers pay a deposit for each container received. The deposit is equal to the container's cost. They receive a refund when the container is returned. During 2024 , deposits collectd on containers shipped wer $850,000. Deposits are forfeited if containers are not returned within 18 months. Containers held by customers at January 1,2024 , represented deposits of $530,000. In 2024,$790,000 was refunded and deposits forfeited were $35,000. Required: 1. Prepare the appropriate journal entries for the deposits received, returned, and forfeited during 2024. 2. Determine the liability for refundable deposits to be reported on the December 31,2024 , balance sheet. Complete this question by entering your answers in the tabs below. Determine the liability for refundable deposits to be reported on the December 31,2024 , balance sheet