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 $2018,$ deposits collected on containers shipped were $$934,000.$

Deposits are forfeited if containers are not returned within $18$ months. Containers held by customers at January $1,2023,$ represented deposits of $$565,000.$ In $2013,$$$825,000$ was refunded and deposits forfeited were $$47,500.$ The liability for refundable deposits to be reported on the December $31,2023,$ balance sheet is

$$505,000.$

$$555,000.$

$$590,000.$

$$850,000.$