ape arinara Gym is engaging in a campaign to increase membership. As a means of All individuals who sign up for a two year membership at $500 will receive a free Bym The value of the gym bag is $50; the value of the sweatshirt is $25 and a session with a ng prospective clients the gym is offering the following ag, a free sweat shirt and two free sessions with a personal trainer. trainer costs $75 On March 1, Joe Jones purchases a two-year membership and pays $500 in cash. repare journal entries to record this transaction. Describe how revenue would be recognized for each performance obligation