The Trent Baisley Bird Watching Club Charges Membership Dues to Finance

The Trent Baisley Bird Watching Club charges membership dues to finance its activities. These dues are $300 per year but the only direct benefit to the club members is a monthly newsletter listing regional citings and bird-watching tips. The newsletter has a fair value of $85 per year. What portion of the $300 member dues should be reported as an exchange transaction and what portion should be reported as contribution revenue?

A) The entire $300 should be reported as contribution revenue-support without donor restrictions
B) $215 should be reported as contribution revenue-support without donor restrictions; the rest should be reported as magazine subscription revenue-an exchange transaction
C) The entire $300 should be reported as an exchange transaction-membership dues
D) The Club should report $215 as contribution revenue-support with donor restrictions; the rest should be reported as magazine subscription revenue-an exchange transaction