Arnold's Club Is a Discount Retailer Subject to SEC Regulation

Arnold's Club is a discount retailer subject to SEC regulation.Arnold's Club charges its customers an annual membership fee.Although the fee is collected in advance,a customer can cancel and receive a full refund at any time during the year of membership.
Should Arnold's Club recognize the entire initial membership fee at the beginning of the year or on a straight-line basis over the course of the membership year? Explain.
What journal entry should be made to record the initial receipt of the membership fees?