On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to operate as a franchisee of Kingbird Inc. for an initial franchise fee of $46,000. The amount of $9,000 was paid when the agreement was signed, and the balance is payable in five annual payments of $7,400 each, beginning January 1, 2018. The agreement provides that the down payment is nonrefundable and that no future services are required of the franchisor once the franchise commences operations on April 1, 2017. Lesley Benjamins credit rating indicates that she can borrow money at 9% for a loan of this type.

Prepare journal entries for Kingbird for 2017-related revenue for this franchise arrangement. Jan 1 cash 9000 note receivable 37000 discount on note receivable 8217 unearned franchise revenue 37783 Apr 1 unearned frachise revenue 37783 franchise revenue 37783 discount on note receivable 2590 interest revenue 2590

Prepare journal entries for Kingbird for 2017-related revenue for this franchise arrangement, assuming that in addition to the franchise rights, Kingbird also provides 1 year of operational consulting and training services, beginning on the signing date. These services have a value of $4,000. April 1, 2017 Unearned Franchise Revenue 33783 Unearned Service Revenue ? Franchise Revenue 33783 Service Revenue ? December 1, 2017 Unearned Service Revenue ? Service Revenue ?

Can someone help me with April 1, 2017 and December 1, 2017 journal entries please?