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 member to receive ten -20% 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, 55 meals still would be discounted by 4% because of ongoing promotions Required: Prepare the journal entry to recognize the sale of a new membership Clearly identity revenue or deferred revenue associated with each performance obligation (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to 2 decimal places) View transaction list View journal entry worksheet No Transaction Credit General Journal Cash Deferred revenue-membership foes Debit 250.00 1 250.00 &