Blossom crossburgers inc. charges an initial franchise fee of $$80,000.$ upon the signing of the agreement $($which covers $3$ years after commencement of operations$),$ a payment of $$32,000$ is due. thereafter, $3$ annual payments of $$16,000$ are required. the credit rating of the franchisee is such that it would have to pay interest at $9\%$ to borrow money. the franchise agreement is signed on may $1,2025,$ and the franchise commences operation on july $1,2025.$

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Prepare the journal entries in $2025$ for the franchisor under the following assumptions.

A$.$ no future services are required by the franchisor once the franchise starts operations.

B$.$ the franchisor has substantial services to perform, once the franchise begins operations, to maintain the value of the franchise.

C$.$ the total franchise fee includes training services $($with a value of $$2,300)$ for the period leading up to the franchise opening and for $2$ months following opening.

$($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts. Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and the final answer to $0$ decimal places a$.$g$.58,971.$ List all debit entries before credit entries. Record journal entries in the order presented in the problem.$)$