Question

Highland Health Club charges an initiation fee of $1,800 to join the club and $250 per month in dues. During its first year of operation, it enrolled 400 members starting on January 2, 2010. It is estimated, based on past experience at its other locations, that a member will use the club approximately 18 months before resigning. The entire initiation fee is non-refundable.

Instructions
Determine the amount of revenue Highland should report in 2010 related to these members.



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  • CreatedJune 17, 2013
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