Bive Corporation obtained a franchise from Larkspur Inc. for a cash payment of 5122.400 on April 1, 2025. The franchise grants Blue the right to sell certain products and services for a period of 6 years. Prepare Blue's April 1 journal entry and December 31 adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manuolly. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts, List all debit entries before credit entries.)