A club sells season memberships for $200 each. During January 2017, 60 season memberships were sold. As of March 31, 2017, $3,000 of season membership fees had been collected from customers. The season runs for four months starting March 1, 2017.

What amount should be reported on the financial statements for the period ending March 31, 2017?

Would it be counted as accounts receivable or membership revenue?