Pina Corporation obtained a franchise from Kingbird Inc. for a cash payment of $115,200 on April 1, 2020. The franchise grants Pina the right to sell certain products and services for a period of 8 years. Prepare Pinas April 1 journal entry and December 31 adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date

	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date

	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount