Question: The Sunset Beach Golf Club provided the following data from its comparative balance sheets: The income statement for 20X1, which was prepared on the accrual

The Sunset Beach Golf Club provided the following data from its comparative balance sheets:

The income statement for 20X1, which was prepared on the accrual basis, showed Dues Revenue Earned of $590,000. No dues were collected in advance during 20X1.
Prepare the 20X1 journal entries and post to T-accounts for the following:
1. Earning of dues collected in advance.
2. Billing of dues revenue during 20X1.
3. Collection of dues receivable in20X1.

December 31 20X1 20X0 $75,000 $20,000 $95,000 Dues receivable Unearned dues revenue

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