The Professional Test Writers Association is a private, not-for profit organization, that has 2000 members. A membership costs $500 per for year and the member receives benefits with a fair value of $150 as part of their membership. What is the proper way to record the revenue? $1,000,000 is reported as membership dues and $700,000 is reported as contribution revenue $700,000 is reported as membership dues and $300,000 is reported as contribution revenue $300,000 is reported as a reduction in expenses and $700,000 is reported as contribution revenue O $1,000,000 is reported as membership dues revenue