Club membership fee query

[silverfoxcc]

These figures are purely hypothetical, but i would like to know if there is a correct way of presenting them on the accounts each year

club has 120 members
The annual fee is 20.00
A life membership is 20 times the current annual membership (400.00)
20 members take advantage of the life membership

So for the first year there are subs paid in of 100x20 2000
plus 20 x 400 8000

the membership total does not change during the next 5 years and remains at 100 annual paying members and 20 life members

Am i correct in saying that the income received from subs in the first year should be shown as two seperate entries

1) subs ( 100 members) 2000
2) life subs (20 members 8000

How would thise be shown in year 2

The annual subs is no problem, but how would the residue? of the Life membership be shown?
if at all?

Hope that makes sense, i am not an accountant!!!!

Edited by silverfoxcc on Sunday 15th January 14:18