Problem 3 Question 2: (1 point) Kathy, an accrual basis taxpayer, operates a gym. She sells memberships that entitle the member to use the faclities at any time. A coe-year membership costs $600 (\$300/12 - \$50 per manth); a two-year membership costs $1,152 [\$1,152/24-\$4a per monthl. Cash payment is required at the beginning of the membership. On August 1, 2020, Kathy sold a one-year memberahip and a two-year membership. Determine the amount of incame Kathy recogrizes in 2021