The amount of earnings distributed to stockholders can be found in the income statement.

Sally's Choice sells season memberships for $200 each. During January 2017, 60 season memberships were sold. As of March 31, 2017, $3,000 of season membership fees had been collected from customers. The season runs for four months starting March 1, 2017. Which one of the following is an amount reported on the financial statements for the period ending March 31, 2017?

Unearned membership revenue of $3,000

Unearned membership revenue of $9,000

Accounts receivable of $3,000

Membership revenue of $9,000

False