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Accounting

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19. 10.00 points 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 recelve a refund when the container is retumed. During 2016, deposits collected on containers shipped were $896,000. Deposits are forfeited if containers are not returned within 18 months. Containers held by customers at January 1, 2016, represented deposits of $625,000. In 2016, $834,000 was refunded and deposits forfeited were $40,750 Required: 1. Prepare the appropriate joumal entries for the deposits received and returmed during 2016. (If no entry is required for a particular event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the deposits collected Note: Enter debits before credits General Journal Debit Credit Record entry Clear entry View general journal

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