MyEducator Tasks specified number of years To use a certain symbol or likeness for a specific number of years 52 A company purchased franchise rights from another company for $100,000. The company paid $65,000 cash and signed a note payable agreeing to pay the remaining $35,000 in the future. What is needed in the journal entry to record this franchise purchase? O Debit to franchise for $65,000 O Credit to franchise for $65,000 O Debit to franchise for $100,000 O Credit to franchise for $35,000 53) What is the proper accounting treatment if the market value of a franchise exceeds its cost at the time of acquisition? O Record the franchise asset at the excess of market value over cost O Record the franchise asset at market value O Record the franchise asset at the excess of cost over market value B h E 52F Sunny d 339 PM 1/27/2022 100%