Happy Citrus started selling franchise locations in April 2026. The franchisee pays continuing fees based on annual sales. The initial fee relates to finding a store location and training the franchisee at Happy Citrus' training facility over a 2-year period. Required: a) Assume that management estimates that 40% of the value of services related to the initial fee is fulfilled in the first year of signing the franchise agreement. Provide the journal entries to record how Happy Citrus should record revenues relating to initial franchise fees in fiscal 2026 and in 2027 . Ignore the time value of money. Please use Excel formula for your calculation