The Rink offers annual $250 memberships that entitle members to unlimited use of ice-skating facilities and locker rooms. each new membership also entitles the number to receive ten "30% off a $5 meal" coupons that are redeemable at the Rink's snack bar. The rink estimates that approximately 75% of the coupons will be redeemed, and that, if the coupons weren't redeemed, $5 meals still would be discounted by 6% because of ongoing promotions.

Prepare the journal entry to recognize the sale of a new membership. Clearly identify revenue or deffered revenue associated with each performance obligation.