B Company purchased a franchise from the A Food Company for $450,000 on January 1,2025 . The franchise is for an indefinite time period and gives B Company the exclusive rights to sell Tasty Wings in a particular territory. Prepare the journal entry to record the acquisition of the franchise and any necessary adjusting entry at year-end on December 31, 2025. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) C Company incurred research and development costs of $500,000 in 2025 in developing a new product. Prepare the necessary journal entries during 2025 to record these events and any adjustments at year-end on December 31 , 2025. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)