Eastfield Group Ltd (EGL) provides investment advisory services. It charges customers a non-refundable $800 joining fee for initially signing up as a member of its network, and an annual subscription fee of $24,000 that entitles the customer to 12 trading recommendations per annum (one per month). Both the joining and subscription fees must be paid in full when customer subscribes to the service. However, the subscription fee can be fully refunded on application, after one-month trial. A customer - Chris - signed up a subscription contract for the service on 1 June 2021, immediately making the required cash payment of $24,800. Chris had not requested a refund by 30 June 2021. Required: Applying AASB 15, explain whether a contract exists between EGL and Chris. Eastfield Group Ltd (EGL) provides investment advisory services. It charges customers a non-refundable $800 joining fee for initially signing up as a member of its network, and an annual subscription fee of $24,000 that entitles the customer to 12 trading recommendations per annum (one per month). Both the joining and subscription fees must be paid in full when customer subscribes to the service. However, the subscription fee can be fully refunded on application, after one-month trial. A customer - Chris - signed up a subscription contract for the service on 1 June 2021, immediately making the required cash payment of $24,800. Chris had not requested a refund by 30 June 2021. Required: Applying AASB 15, explain whether a contract exists between EGL and Chris