Question

Victory Health Club Inc. allows people to join its health and fitness club by either buying a lifetime membership or paying annually. A lifetime membership entitles the member to use club facilities for the member's life. Members who pay annually can use the facilities for 12 months after a membership is purchased.

Required:
How should the revenue be recognized from the sale of memberships where the member pays monthly and from the sale of lifetime memberships?



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  • CreatedFebruary 26, 2015
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