The following data are taken from the comparative balance sheets of Pinebluff Club, which prepares its financial statements using the accrual basis of accounting.

Fees are billed to members based upon their use of the club€™s facilities. Unearned fees arise from the sale of gift certificates, which members can apply to their future use of club facilities. The 2010 income statement for the club showed that fee revenue of $162,000 was earned during the year.

Instructions
(a) Prepare journal entries for each of the following events that took place during 2010.
1. Fees receivable from 2009 were all collected during 2010.
2. Gift certificates outstanding at the end of 2009 were all redeemed during 2010.
3. An additional $40,000 worth of gift certificates were sold during 2010; a portion of these were used by the recipients during the year; the remainder were still outstanding at the end of 2010.
4. Fees for 2010 were billed to members.
5. Fees receivable for 2010 (i.e., those billed in item (4) above) were partially collected.
(b) Determine the amount of cash received by the club with respect to fees during2010.

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December 31 2010 2009 Accounts receivable for member fees $20,000 $6,000 18,000 Unearned fees revenue 7,000