Tezanne Inc., a company that has created a unique art training program, sells franchise licenses to qualified individuals to open a Tezanne Studio. Charges associated with acquiring a Tezanne studio franchise are as follows:

• an initial franchise fee of $323,000 which consist of the following:
  • rights to trade name, market area, and proprietary know-how $120,000
  • equipment (cost of $45,700) 145,000
  • training services 58,000

Upon signing of the agreement, a payment of $100,000 is due. Thereafter, two annual payments of $111,500 are required. The credit rating of the one particular franchisee, Art I. Talented, is such that Art would have to pay interest of 8% to borrow money. The franchise agreement is signed by Art and Cezanne on August 1, 2028, and the franchise begins operations on November 1, 2028.

What entry is required by the franchisor on August 1, 2028?

What entry is required by the franchisor on November 1, 2028?