Lakewood Tennis Club (LTC) operates an indoor tennis facility. The company charges a $130 annual membership fee plus a member rental rate of $15 per court per hour. LTC's fiscal year-end is August 31. LTC's revenue recognition policy is described in its financial statement notes as follows: Revenue Recognition-LTC generates revenue from two sources. Annual membership fees arise from providing 12 months of services to members, so they are reported as membership revenue each month as these services are provided. Court rental fees are generated by renting courts each day, so they are reported as service revenue when courts are used by members. The following events occurred. a. On August 31, 8 new members joined and paid the annual membership fee in cash. The memberships do not begin until September 1. b. For the week ended September 11, LTC provided 180 court-hours of rental services for members and collected its fees in cash. c. On September 13, LTC purchased and received tennis balls and other supplies. The regular retail price was $230, but LTC negotiated a lower amount ($220) that is to be paid in October. d. On September 15, LTC paid $1,700 to employees for the hours they worked from September September 1 to 15. e. For the two weeks ended September 25, LTC provided 340 court-hours for members and collected its fees in cash. f. On September 26, LTC's courts were used for a member's birthday party, LTC expects the member to pay the special event booking fee of $180 on Saturday, October 2. g. On September 27, LTC wrote a $320 check to an advertising company to prepare advertising flyers that will be inserted in local newspapers on October 1. h. On September 29, LTC received $180 on account for the member's birthday party that was held on September 26. 1. On September 30, LTC submitted its electricity and natural gas meter readings online. According to the suppliers Websites, the total charges for the month will be $260. This amount will be paid on October 17 through a preauthorized online payment. Record the entry for annual membership fee received in cash from 8 new members. The memberships do not begin until September 1. Note: Enter debits before credits. Transaction a Cash General Journal Debit Credit 4 5 6 7 8 6 Record the entry for fees collected in cash for the 180 court hours of rental service provided to members. < 1 2 3 Note: Enter debits before credits. Transaction General Journal Debit Credit b > Record the entry for purchase of tennis balls and other supplies. The regular retail price was $230, but LTC negotiated a lower amount ($220) that is to be paid in October. Note: Enter debits before credits. Transaction C General Journal Debit Credit Record the entry for $1,700 paid to employees for the hours they worked from September 1-15. Note: Enter debits before credits. Transaction General Journal Debit Credit Record the entry for fees collected in cash for the 340 court hours. Note: Enter debits before credits. Transaction General Journal Debit Credit Record the entry for $180 special event booking fee receivable from a member. The usage of the court for member's birthday party. Note: Enter debits before credits. Transaction General Journal Debit Credit < 2 3 4 5 6 7 E 8 9 Record the entry for $320 check written to an advertising company to prepare advertising flyers that will be inserted in local newspapers on October 1. Note: Enter debits before credits. Transaction 9 General Journal Debit Credit Record the receipt of $180 on account for the member's birthday party that was held on September 26. Note: Enter debits before credits. Transaction h. General Journal Debit Credit Record the entry for electricity and natural gas expense. LTC submitted its electricity and natural gas meter readings online. According to the suppliers' Web sites, the total charges for the month will be $260. This amount will be paid on October 17 through a preauthorized online payment. Note: Enter debits before credits. Transaction General Journal Debit Credit