a few sentences explain how Costco accounts for the cash received from customers who purchase goods? How do they account for the cash received for services? What accounts are affected? When are they affected? b. In a few sentences explain what "sales returns" are and how does Costco record them in their financial statements? c. Explain in layman's terms how Costco recognizes revenue from annual memberships. How much money did Costco expect to return to its executive members as of August 28, 2016? d. On August 28, 2016, Costco collected $2,646 million in one - year membership fees from customers. Show how Costco would record the collection of these membership fees on August 28, 2016, and what accounting adjustment Costco would record on November 30, 2016 (i.e., at the end of the first fiscal quarter of 2017), using journal entries, T - accounts, or the accounting equation method. You can ignore the reward executive members earn for this question. e. Costco is contemplating adding a fitness facility to its warehouses  customers would pay a monthly fee to use fitness equipment and take classes. How would Costco record monthly fees from customers and related costs .

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