P4-1A Record transactions on accrual basis; convert revenue to cash receipts The following selected data are taken from the comparative financial statements of Yankee Curling Club. The club prepares its financial statements using the accrual basis of accounting September 30 Accounts receivable for member dues Unearned sales revenue Service revenue (from member dues) 2016 $19,000 23,000 135,000 2017 $15,000 20,000 151,000 Dues are billed to members based upon their use of the club's facilities. Unearned sales revenues arise from the sale of tickets to events, such as the Skins Game Instructions (Hint: You will find it helpful to use T-accounts to analyze the following data. You must analyze these data sequentially, as missing information must first be deduced before moving on.) (a) Use the tabular summary that includes selected accounts and balances to record the following events that took place during 2017 1. Dues receivable from members from 2016 were all collected during 2017 2. During 2017, goods were provided for all of the unearned sales revenue at the end of 2016 3. Additional tickets were sold for $44,000 cash during 2017, a portion of these were used by the purchasers during the year. The entire balance remaining in Unearned Sales Revenue relates to the upcoming Skins Game in 2017 4. Dues of $151,000 for the 2016-2017 fiscal year were billed to members 5. Dues receivable for 2017 (i.e., those billed in item (4) above ) were partially collected Determine the amount of cash received by Yankee from the above transactions during the year ended September 30, 2017 YANKEE CURLING CLUB Stockholders' Equity Liabilties + Unearned Assets Accounts Dividend Account Stock RevenueExpense Cash ales Rev+ + Receiva 9/30/2016 Balance 23,000 19,000 Value Value Value Value Value Value Value Value Value Value Value Value Cash received with respect to fees and dues 1. Collection of 2016 dues 3. Sales of tickets 5. Collection of 2017 dues Value Value Value Service Revenue Cash 4 Value Value Value Value 3 2017 Bal 2017 Bal Cash received with respect to fees and dues 1. Collection of 2016 dues 3. Sales of tickets 5. Collection of 2017 dues Value Value Value Service Revenue Cash 4 Value Value Value Value 3 2017 Bal 2017 Bal Sales Revenue Accounts Receivable 2 3 Value Value 2016 | Value 1 Bal 4 Value Value Value 2017 Bal 2017 Bal Unearned Sales Revenue 2. 3 Value_2016 Value Value Bal 3 Value 2017 Bal