We L ucu Required information (The following information applies to the questions displayed below.) Lakewood Tennis Club (LTC) operates an indoor tennis facility. The company charges a $190 annual membership fee plus a member rental rate of $20 per court per hour. LTC's fiscal year-end is August 31 LTC's revenue recognition policy is described in its financial statement notes as follows: Revenue Recognition LTC generates revenue from two sources. Annual membership fees arise from providing 12 months of services to members, so they are reported as membership revenue each month as these services are provided. Court rental fees are generated by renting courts each day, so they are reported as service revenue when courts are used by members. On August 31, 10 new members joined and paid the annual membership fee in cash. The memberships do not begin until September 1. For the week ended September 11, LTC provided 240 court hours of rental services for members and collected its fees in cash On September 13, LTC purchased and received tennis balls and other supplies. The regular retail price was $355, but LTC negotiated a lower amount ($330) that is to be paid in October. On September 15, LTC paid $2,800 to employees for the hours they worked from September 1-15. For the two weeks ended September 25, LTC provided 342 court hours for members and collected its fees in cash. On September 26, LTC's courts were used for a member's birthday party. LTC expects the member to pay the special event booking fee of $240 on Saturday, October 2. On September 27. UTC wrote a $430 check to an advertising company to prepare advertising flyers that will be inserted in local newspapers on October 1. On September 29, LTC received $240 on account for he member's birthday party that was held on September 26, On September 30, LTC submitted its electricity dod natural gas meter readings online. According to the suppliers Websites, the total charges for the month will be $380. This amount will be paid on October 17 through a preauthorized online payment. 2. Prepare journal entries to record the August and September events described above. (If no entry is required for a transaction event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 Record the entry for annual membership fee received in cash from 10 new members. The memberships do not begin until September 1. Note: Enter debits before credits Date General Journal Debit Credit Record View general Journal Clear entry