Question

The Sunset Beach Golf Club provided the following data from its comparative balance sheets:


The income statement for 20X1, which was prepared on the accrual basis, showed Dues Revenue Earned of $590,000. No dues were collected in advance during 20X1.
Prepare the 20X1 journal entries and post to T-accounts for the following:
1. Earning of dues collected in advance.
2. Billing of dues revenue during 20X1.
3. Collection of dues receivable in20X1.


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  • CreatedFebruary 20, 2015
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