Cost and Amortization of Intangible Assets On January 2. Frazier Company purchased a restaurant franchise for $444,600. The terms of the franchise agreement allowed Frasier to have exclusive rights to operate a restaurant under the "Simply Fried" brand name for the next 18 years Required: Prepare any journal entries related to the franchise that Frazier should make during the year. If an amount box does not require an entry, leave it blunk Jan. 2 Dec. 31 Il