Beefeater Inc. sells fast-food franchises. Beefeater receives $75,000 from a new franchisee for providing initial training, equipment, and furnishings. Beefeater also charges a franchisee $36,000 per year to use of the Beefeater name and for ongoing consulting services (starting on the date the franchise is purchased). Seagram purchased a Beefeater franchisee on March 1, 2024, and on May 1, 2024 Seagram had completed training, received the equipment and furnishings, and was open for business. How much revenue in 2024 will Beefeater recognize for its arrangement with Seagram?

Question 7 1 pts Beefeater Inc. sells fast-food franchises. Beefeater receives $75,000 from a new franchisee for providing initial training, equipment, and furnishings. Beefeater also charges a franchisee $36,000 per year to use of the Beefeater name and for ongoing consulting services (starting on the date the franchise is purchased). Seagram purchased a Beefeater franchisee on March 1, 2024, and on May 1, 2024 Seagram had completed training, received the equipment and furnishings, and was open for business. How much revenue in 2024 will Beefeater recognize for its arrangement with Seagram? O $75,000 O $99,000 O $105,000 O $111,000