on August 31 10 new members joined and paid the annual membership

The following Information applies to the questions displeyed below] Lakewood Tennis Club (LTC) operates an Indoor tennis facility. The company charges a $190 annual membership fee plus a member rental rate of $20 per court per hour. LTC's fiscal year end is August 31. LTC' revenue recognition policy is described in Its financial statement notes as follows: Revenue Recognition-LTC earns revenue from two sources. Annual membership fees are earned by providing twelve months of services to members, so they are reported as membership revenue as they are earned over that 12-month perlod. Court rental fees are earned by renting courts each day, so they are reported as service revenue as courts are used by members On August 31, 10 new members joined and paid the annual membership fee in cash. The membershlps do not begin untl September 1. For the week ended September 11, LTC provided 240 court-hours of rental services for members and collected its fees in cash. On September 13, LTC purchased and received tennis balls and other supples. The regular retal price was $355, but LTC negotiated a lower amount ($330) that is to be paid in October. On September 15, LTC paid $2.800 to employees for the hours they worked from September 1-15. For the two weeks ended September 25, LTC provided 342 court-hours for members and collected its fees in cash. 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 $240 on Saturday. October 2. On September 27, LTC wrote a $430 check to an advertising company to prepare advertising flyers that will be inserted in local newspapers on October 1. On September 29, LTC recetved $240 on LTC submitted its electricity and natural gas meter readings online. charges for the month will be $380. This amount will be paid on October 17 through a preauthorized account for the member's birthday party that was held on September 26.On September 30, suppliers' Websites, the total 3 6.00 points 2 Prepare journal entries to record the August and September events descrbed above. Reference each transaction by date. 0 d for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the entry for purchase of tennis balls and other supplies. The regular esc 2 F2