Accounting for Membership Fees and Rewards Program 3's Wholesale Club Holdings, Inc. provides the following description of its revenue recognition policies for membership fees and its reward program. Serformance Obligations lectronic awards issued in $20 increments that may be used online or in-club at the register and expire six months from the date issued. lubs, website, and gas stations for the duration of the membership term, the Company recognizes membership fees on a straight-line basis over the life of the membership. The follnwing data were extracterl from inrome statement, balance sheet, and footnotes of BJ's 10-Q report for the second quarter of 2018 : repare journal entries to record (1) membership fees collected in cash in the first half of fiscal year 2018 and (2) membership fee revenue recognized over that period. Accounting for Membership Fees and Rewards Program 3's Wholesale Club Holdings, Inc. provides the following description of its revenue recognition policies for membership fees and its reward program. Serformance Obligations lectronic awards issued in $20 increments that may be used online or in-club at the register and expire six months from the date issued. lubs, website, and gas stations for the duration of the membership term, the Company recognizes membership fees on a straight-line basis over the life of the membership. The follnwing data were extracterl from inrome statement, balance sheet, and footnotes of BJ's 10-Q report for the second quarter of 2018 : repare journal entries to record (1) membership fees collected in cash in the first half of fiscal year 2018 and (2) membership fee revenue recognized over that period