Chapter 1.4, Problem 2CQ

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SUBJECT: GENERAL ACCOUNTING

P4.1A  Record transactions on accrual basis; convert revenue to cash receipts   The following selected data are taken from the comparative financial statements of Yankee Curling Club.  The club prepares its financial statements using the accrual basis of accounting.                        September 30   2022   2021     Accounts receivable for member dues    $      15,000    $       19,000     Unearned sales revenue     20,000   23,000     Service revenue (from member dues)   151,000   135,000                       Dues are billed to members based upon their use of the club's facilities.  Unearned sales  revenues arise from the sale of tickets to events, such as the Skins Game.                       Instructions               (Hint:  You will find it helpful to use T-accounts to analyze the following data.  You must   analyze these data sequentially, as missing information must first be deduced before   moving on.  Post your journal entries as you progress,…