On March 1, 2013, Baliwag's Lechon, Inc. a franchisor, entered into franchise agreement with Mr. Gordobe. The initial franchise fee is P500,000 of which P100,000 is payable in cash upon signing of the franchise agreement and the balance evidence by a 12% promissory note. As of December 31, 2013 the franchisor fails to render substantial services and none thus far had been rendered to the franchisee. When Baliwag's Lechon, Inc. prepares its financial statements on December 31, 2013, the revenue from the franchise fee to be reported is: