Drink alcoholic beverage in lounge (7)
I believe the answer is:
limeade
'drink' is the definition.
(limeade is a kind of drink)
'alcoholic beverage in lounge' is the wordplay.
'alcoholic beverage' becomes 'mead' (mead is a kind of alcoholic beverage**).
'in' means one lot of letters goes inside another.
'lounge' becomes 'lie' (I've seen this in other clues).
'mead' inserted within 'lie' is 'LIMEADE'.
(Other definitions for limeade that I've seen before include "Non-alcoholic beverage" , "Fizzy drink" , "Fruity drink" , "soft drink" , "Citrus drink" .)