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Sandhill Delight, Inc. charges an initlal franchise fee of $75,700 for the right to operate as a franchisee of Sandhill Delight. Of this amount, $24,900

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Sandhill Delight, Inc. charges an initlal franchise fee of $75,700 for the right to operate as a franchisee of Sandhill Delight. Of this amount, $24,900 is collected immediately. The remainder is collected in four equal anrual installments of $12,700 each, These installments have a present value of $41,462. As part of the total franchise fee, Sandhill Delight also provides training iwith a fair value of $2,000) to help franchisces get the store ready to open. The franchise agreement is signed on April 1, 2025, training is completed, and the store opens on July 1,2025. Prepare the joumal entries required by Sandhill Delight on April I and July 1, 2025. FCredit account tities ore automatically indented when amount is entered, Do not indent manually. If no entry is required, select "No entry" for the occount titles and enter 0 for the amounts, List all deblt entries before credit entries. Record journalentries in the order presented in the problem.)

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