The Claremont Cricket Club collects membership fees of $100 in advance from its members at the beginning of October each year for the summer season, which ends in April. This entitles members to free entry to all games played at the home ground for the season. The club’s financial year ends on 31 December. Should the club make any adjusting entry in its accounts at the end of the year in relation to membership fees received? Why or why not? Explain.