Record the deposits collected. Record the containers returned. Record the deposits forfeited - record revenue. Record the deposits forfeited - adjust inventory. 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 2013, deposits collected on containers shipped were $915,000. Deposits are forfeited if containers are not returned within 18 months Containers held by customers at January 1, 2013, represented deposits of $602,000 In 2013, $818,000 was refunded and deposits forfeited were $41, 750. Required: Prepare the appropriate journal entries for the deposits received and returned during 2013. (If no entry is required for a particular event, select "No journal entry required" in the first account field.) Determine the liability for refundable deposits to be repo-ted on the December 31, 2013, balance sheet