The following selected data are taken from the comparative financial statements of Superior Curling Club. The club prepares its financial statements using the accrual basis of accounting.

September 30



Accounts receivable for member dues

$ 15,000

$ 19,000

Unearned sales revenue



Service revenue (from member dues)



Dues are billed to members based upon their use of the club”s facilities. Unearned sales revenues arise from the sale of tickets to events, such as the Skins Game.


(Hint:You will find it helpful to use T accounts to analyze the following data. You must analyze these data sequentially, as missing information must first be deduced before moving on. Post your journal entries as you progress, rather than waiting until

the end.)

(a) Prepare journal entries for each of the following events that took place during 2012.

1. Dues receivable from members from 2011 were all collected during 2012.

2. Unearned sales revenue at the end of 2011 was all earned during 2012.

3. Additional tickets were sold for $44,000 cash during 2012; a portion of these were used by the purchasers during the year. The entire balance remaining in Unearned Sales Revenue relates to the upcoming Skins Game in 2012.

4. Dues for the 2011–2012 fiscal year were billed to members.

5. Dues receivable for 2012 (i.e., those billed in item (4) above) were partially collected.

(b) Determine the amount of cash received by the Club from the above transactions during the year ended September 30, 2012.