The Bridge in Bridgehampton, N.Y., charged a whopping $750,000 to join, according to a 2007 Wall Street Journal article. Another Hamptons club, Sebonack Golf Club, billed new members for $650,000 when it opened in 2006, Bloomberg reported.
Hence, the revenue cycle actually consists of two major subsystems (assuming sales on credit basis): 1  the sales order processing system and. 2  the account receivable system.
Deferred revenue is a liability account found on the company's balance sheet. The balance represents advance payments received from customers for products that will be shipped or services that will be performed in the future.t the end of September, the balance in the deferred revenue account will be $5,500, the total advance payment for the contract minus the services provided in the first month that are now recognized in revenue.