3 F on Mountain Tours Ltd is a responsible tourist business that operates in the Blue Mountains area. Mountain Tours offers an annual membership at a price of $5,000. After a customer pays an upfront cash payment of the annual membership fee, the customer will be entitled to twenty (20) abseiling tours for 12 months, five (5) wildlife and river cruise tours for 12 months and five (5) scenic world all inclusive tours for 12 months. The standalone prices of these services are listed below. Service Price Twenty (20) abseiling tours Five (5) wildlife and river cruise tours Five (5) scenic world all-inclusive tours Time left 0:28:41 $150 per person $500 person $300 person Mountain Tours is a reporting entity, has adopted AASB15: Revenue from contracts with customers and has a 30 June year end. Required: On 1 July 2022 Kylie purchased an annual membership and paid a total up-front membership fee of $5,000. The membership fee is non-refundable. Considering AASB15: Explain whether a contract exists between Mountain Tours and Kylie.