Cost and Amortization of Intangible Assets On January 2, Frazier Company purchased a restaurant franchise for $230,000. 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 20 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 Accumulated Depreciation Cash Delivery Truck Depreciation Expense Franchise