Refer to the FASB Codification through the student access posted in the Welcome module Indicate precisely the sections of the Codification that provide the information for your response. That is, enter the code in the format: Write the code for each paragraph usod to respond IFelice, an art gallery, decided to sell quarterly subscriptions to critcal reviews of current art pieces in its showroom. In November of 2023, they began to advertise the sale of the reviews beginning in the first quarter of 2024 . Interested art patrons could purchase the first quarter's pamphlot for $20 or subscribe to the four quarterly pamphlets for 2024 for a total of $60. By the end of 2023 , payments of $60,000 had been received for the annual subscriptions. In preparing its 2023 tax return, Felice needs to verify the correct treatment for these subscriptions. 1. Where in the Codification would XYZ find the information needed? 2. Describe the required accounting for taxes regarding the subscriptions. Be sure to specify the amount of the effect on Felice' 2023 taxes (and future years' taxes, if reievant) if the enacted tax rate is 21%