Advice requested: how should we record non-academic activity credits?

I'm looking for advice on how best to record a student's completion of non-academic activity credits. Our Athletics/Physical Education department is revising their graduation requirements. A student who enters the Upper School in 9th grade must participate in an approved activity during 6 of the 12 terms before graduation. (3 terms in each of 4 years). A student might earn a credit by participating in a team sport for a season, or by participating in various other groups.


We want a record of the completed activity on the report card and on the transcript. There will be no assignments. It's a credit/no-credit proposition. If a student chooses to not participate in an activity one term, we want nothing on the report card or transcript. If the student completes the requirement for the activity, the report card and transcript will have some notation ("CR", etc). The credit will not have any effect on GPA or honor roll. Attendance is not a consideration, because each activity will have different schedules and expectations from day to day and week to week.


What are your thoughts? What are the advantages of using a course in Academics vs. an Activity? (For that matter...can we do this with an Activity in the first place?)