On January 1, 2025, Kimberley King signed an agreement, covering 5 years, to operate as a franchisee of Crane Inc. for an initial franchise fee of $38,000

Prepare journal entries for Crane for 2025-related revenue for this franchise arrangement, assuming that in addition to the franchise rights, Crane also provides 1 year of operational consulting and training services, beginning on the signing date. These services have a value of $4,200. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Round present value factor calculations to 5 decimal places, e.3. 1.25124 and the final answer to O decimal places e.g. 58,971. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) e Account Titles and Explanation Debit Credit 25 v ' Cash | 8000 | | Discount on Motes Receivable 7825 Unearned Franchise Revenue | | | 25975 Unearned Service Revenue 4200 25 v Unearned Franchise Revenue 25975 Unearned Service Revenue Franchise Revenue Service Revenue 4200 4200