Swifty Corp. follows IFRS and sells its products in expensive, reusable containers that can be tracked. The customer is charged a deposit for each container that is delivered and receives a refund for each container that is returned within two years after the year of delivery. When a container is not returned within the time limit, Swifty accounts for the container as being sold at the deposit amount and credits the account Container Sales Revenue. Information for 2020 is as follows: Containers held by customers at December 31, 2019, from deliveries in: 2018 $177,800 2019 475,100 $652,900 Containers delivered in 2020 894,700 Containers returned in 2020 from deliveries in: 2018 $118,200 2019 279,600 2020 315,800 713.600 tomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the accou les and enter O for the amounts.) Account Titles and Explanation Debit Credit Cash 894700 894700 Deposits (To record deposit from customer) Deposits 713600 Cash 713600 (To record refund of deposit to customer) 59600 Deposits Container Sales Revenue 59600 b) Calculate the total amount that Swifty should report as a liability for returnable deposits at December 31, 2020. Liability for Reusable Containers 1 eTextbook and Media List of Accounts