Revenue Recognition Midwest Health Club (MHC) offers 1-year memberships. Membership fees are due in full at the beginning of the individual…
Revenue Recognition Midwest Health Club (MHC) offers 1-year memberships. Membership fees are due in full at the beginning of the individual membership period. As an incentive to new customers, MHC advertised that any customers not satisfied for any reason could receive a refund of the remaining portion of unused membership fees. As a result of this policy, Richard Nies, corporate controller, recognized revenue ratably over […]
