Accounting for Membership Fees and Rewards Program BJ's Wholesale Club Holdings, Inc. provides the following description of its revenue recognition policies for membership fees and its reward program. Performance Obligations customer. Merchandise sales-The Company recognizes sale of merchandise at clubs and gas stations at the point of sale when the customer takes possession of the goods and tenders payment. at the register and expire six months from the date issued. deferred revenue at the time the reward dollars are earned. membership. The following data were extracted from income statement, balance sheet, and footnotes of BJ's 10-Q report for the second quarter of 2018: cash in the first half of fiscal year 2018 and (2) membership fee revenue recognized over that period. Note: Enter answers in millions. riease answer al parts o tne