Exhibit $3-4$ Use the selected T accounts for the Queen City Country Club presented below to answer the questions that follow. Cash $8/1$ Bal. $6,0008/35008/54008/7900--$ Deposits received in advance A liability account Accounts receivable $8/21,80018/7$ Sales $90018/350018/218/51,800400$ w Folder With Items $20$ EC Which of the following describes the transaction which occured on August $7?$ Select one: O a$.$ Collection of the amount due from a previous credit sale of club memberships $$ b$.$ Cash sales of meals and daily golf and swimming fees $$ c$.$ A credit sale of club memberships O d$.$ Collection of an advance deposit for rental of club facilities for a party