The following data are taken from the comparative balance sheets of Glenview Club, which prepares its financial statements using the accrual basis of accounting.

Fees are billed to members based upon their use of the club??s facilities. Unearned service revenues arise from the sale of gift certificates, which members can apply to their future use of club facilities. The 2012 income statement for the club showed that service revenue of $172,000 was earned during the year.Instructions(a) Prepare journal entries for each of the following events that took place during 2012.1. Fees receivable from 2011 were all collected during 2012.2. Gift certificates outstanding at the end of 2011 were all redeemed during 2012.3. An additional $40,000 worth of gift certificates were sold during 2012; a portion of these were used by the recipients during the year; the remainder were still outstanding at the end of 2012.4. Fees for 2012 were billed to members.5. Fees receivable for 2012 (i.e., those billed in item (4) above) were partially collected.(b) Determine the amount of cash received by the club with respect to fees during2012.

December 31 Accounts receivable for member fees Unearned service revenue 2012 2011 $12,000 $18,000 17,000 11,000