The following data are taken from the comparative statements of financial position of Girard Billiards 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 fees arise from the sale of gilt certificates, which members can apply to their future use of club facilities.
The 2011 income statement for the club showed that fees revenue of $153,000 was earned during the year.

Instructions
(You will probably find it helpful to use T accounts to analyze these data.)
(a) Prepare journal entries for each of the following events that took place during 2011.
(1) Fees receivable from 2010 were all collected.
(2) Gift certificates outstanding at the end of 2010 were all redeemed.
(3) An additional $35,000 worth of gift certificates were sold during 2011. A portion of these was used by the recipients during the year: the remainder was still outstanding at the end of 2011.
(4) Fees for 2011 for services provided to members were hilled to members.
(5) Fees receivable for 2011 (i.e., those billed in item [4] above) were partially collected. 

(b) Determine the amount of cash received by the club, with respect to Ices, during 2011.

December 31 2011 2010 Fees receivable from members $14.000 9.000 Unearned fees revenue 17.000 25.000