Uneamed Revenue and Customer Deposits On November 20, 2023, Green Bay Electronics agreed to manufacture and supply 500 electronic control units used by Wausau Heating 5y stems in large commerclal and industrial instaliments. On that date, Wausau deposited $480 per unit upon signing the 3 -year purchase agreement, which set the selling price of each control unit at $1,440. Green Bay's inventory cost is $300 per unit. No units were delivered during 2023. The first 100 units will be dellvered in 2024 , 150 units will be delivered during 2025 , and the remaining units will be delivered during 2026. Assume Green Bay uses a perpetual inventory system, and Wausau pays in cash upon delivery of units for amounts not covered by the deposit. Required: 1. Conceptual Connection: Prepare the entry by Green Bay to record receipt of the deposit during 2023. If an amount box does not require an entry, leave it blank. Nov. 20 (Record receipt of deposit for merchandise not yet delivered) How would the deposit be reported in the financial statements at the end of 2023? The portion of customer deposits pertaining to next year's deliveries should be classified as a on the balance sheet at the end of 2024; the remainder should be classified as a How would the deposit be reported in the financial statements at the end of 2024 ? The amount that pertains to next year's delveries and would be reported as a on the balance sheet at the end of 2025, while the remainder would be classified as a