The Trent Baisley Bird Watching Club charges membership dues to finance its activities. These dues are $300 per year but the only direct benefit to the club members is a monthly newsletter listing regional citings and bird-watching tips. The newsletter has a fair value of $85 per year. What portion of the $300 member dues should be reported as an exchange transaction and what portion should be reported as contribution revenue?

		The entire $300 should be reported as contribution revenuesupport without donor restrictions
		$215 should be reported as contribution revenuesupport without donor restrictions; the rest should be reported as magazine subscription revenuean exchange transaction
		The entire $300 should be reported as an exchange transactionmembership dues
		The Club should report $215 as contribution revenuesupport with donor restrictions; the rest should be reported as magazine subscription revenuean exchange transaction