The following data were extracted from income statement, balance sheet, and disclosure notes of

BJ$\text{'}$s $10-K$ annual report for $2020$ :

Explain BJ$\text{'}$s accounting for membership fees.

b$.$ Report $(1)$ membership fees collected in cash in the first half of fiscal year $2020$ and $(2)$ mem$-$

bership fee revenue recognized over that period using the financial statement effects template.