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Required information Exercise 7-11 (Algo) Unearned revenues-customer deposits LO 3 [The following information applies to the questions displayed below.) NightWoundsTime Brewing Co. distributes its
Required information Exercise 7-11 (Algo) Unearned revenues-customer deposits LO 3 [The following information applies to the questions displayed below.) NightWoundsTime Brewing Co. distributes its products in an aluminum keg. Customers are charged a deposit of $90 per keg: deposits are recorded in the Keg Deposits account. Exercise 7-11 (Algo) Part c Journal entry c-2. A keg use analyst who works for NightWoundsTime estimates that 280 kegs for which deposits were received during the year will never be returned. 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.) View transaction list Journal entry worksheet < 1 Record the elimination of the liability for unreturned kegs. Note: Enter debits before credits. Event General Journal Debit Credit
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