Cost and Amortization of Intangible Assets On January 2, Frazier Company purchased a restaurant franchise for $178,000. The terms of the franchise agreement allowed Frazier to have exclusive rights to operate a restaurant under the "Simply Fried" brand name for the next 10 years, Required: Prepare an Journal entries related to the franchise that Frazier should make during the year. If an amount box does not require an entry, leave it blank Jan 2 III Dec. 31