Planet Fitness Center offers discounted 2-year memberships to it gym $240. When Planet sells one...
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Accounting
Planet Fitness Center offers discounted 2-year memberships to it gym $240. When Planet sells one of these memberships it should recognize sales revenue for this membership:
a.
ll at one time when the $240 payment is received at the beginning of the membership
b.
Over time during the 24 month period of the membership, at $10 per month
c.
All at one time at the end of the 24 month membership
d.
All of the above methods are allowed by GAAP
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