Based on IFRS, explain the accounting treatment for this transaction! Prepare required journal entries.

In early 2023, PT XYZ signed a 1-year contract with PT KLM. The contract states, among others, that PT KLM pays a membership registration fee of Rp 80 million (only 1 time and nonrefundable) and no membership fee will be charged in the first year. If PT KLM renews its membership, PT KLM must pay a monthly membership fee of Rp 5 million. The average customer of PT XYZ after the first year of membership extends membership up to 3 years extension. PT XYZ recognizes a membership registration fee from PT KLM of IDR 80 million as revenue in 2023