Panda Monkeys (PM) is a for-profit corporation duly registered with the Internal Revenue Service and its home states Secretary of State department. Panda Monkeys is in the business of making and selling stuffed toys. In a major initiative to expand its reach, PM has entered into a contract with Black Social Media (BSM) to create and populate a new website for PM. The contract was signed on December 31, 2018 and has the following provisions: Panda Monkeys websight programming. Unlimited number of pages available. $5,100.00 Wordpress training. Initial 2 hour training and up to 10 hours of phone/email support. $425.00 Tutorials. Access to online Wordpress tutorials unlimited for one year, including an online text user manual. $99.00 Website hosting: 3-years prepaid. $390.00 Domain name registrations. PandaMonkeys.com (and .biz and .net). $150.00 Photoshoot of products for website catalog. $4500.00 Videoshoot of operations and products for website marketing. $6,300.00 Required: For each of the above contract provisions: 1. Citing guidance from the Codification, explain when and how PM should record an entry and the how much should be recorded. Please note that there is professional judgment involved in the classification of each contract provision make sure you to explain/justify your choices. 2. Explain how you located the relevant guidance, including the search method used and which sections you searched within the appropriate topic. Note: this will be a final case study. The requirements to create an interactive PowerPoint presentation that are listed in the syllabus are not needed. Presentation should be in a business memo format.