Chase Club offers a 1-year membership that grants customers access to their stores. At the beginning of 2022, Chase Club reported unearned revenues of $55,000. During 2022, $65,000 was collected from customers for membership fees. If the ending balance in unearned revenue is equal to $36,000, how much revenue due to memberships was recognized during the year? O $55,000 $84,000 O $120,000 O $74,000

Chase Club offers a 1-year membership that grants customers access to their stores. At the beginning of 2022 , Chase Club reported unearned revenues of $55,000. During 2022,$65,000 was collected from customers for membership fees. If the ending balance in unearned revenue is equal to $36,000, how much revenue due to memberships was recognized during the year? $55,000 $84,000 $120,000 $74,000