On January 1, 2021 Ivanhoe Treats, Inc. entered into a franchise agreement with a company allowing the company to do business under Ivanhoe Treats' name. Ivanhoe Treats had performed substantially all required services by January 1, 2021, and the franchisee paid the initial franchise fee of $1000000 in full on that date. The franchise agreement specifies that the franchisee must pay a continuing franchise fee of $86000 annually, of which 20% must be spent on advertising by Ivanhoe Treats. What entry should Ivanhoe Treats make on January 1, 2021 to record receipt of the initial franchise fee and the continuing franchise fee for 2021? Cash Franchise Fee Revenue Franchise Revenue Cash Franchise Fee Revenue Revenue Franchise Unearned Franchise Revenue 1086000 1000000 86000 1086000 1000000 68800 17200 Prepaid Advertising 17200 Cash 1086000 Franchise Fee Revenue 1000000 Franchise Revenue 86000 Unearned Franchise Revenue 17200 Cash Unearned Franchise Revenue 1086000 1086000