You are the CPA for franchisor (FR). FR and franchisee (FE) enter a franchise agreement: FR and FE enter a franchise agreement dated 010121. FE agrees to pay FR $100,000 over five years starting 010121 for FR's management consultation: $20,000 cash on 010121 ; and $80,000 note receivable in 5 annual, equal amounts of $20,000 due on Dec. 31 of each year starting 123122 . FR earns this revenue ratably over the years. What is the journal entry, if any, that FR recognizes on 123123 ? Multple Cholce FR debits Deferred Revenue $80,000 and credits Revenue $80,000 FR debits Unearned Revenue $80,000 and credits Deferred Revenue $80,000 FR debits Unearned Revenue $20,000 and credits Deferred Revenue $20,000 FR debits Unearned Revenue $20,000 and credits Revenue $20,000 None of the other choices are correct. Franchisor (FR) sold a franchise to franchisee (FE ) for the transportation of air freight. The franchise agreement requires FE to pay a one-time fee of $100,000 plus a royalty of 2% of all gross revenues FE earns throughout the duration of the franchise agreement. The franchise agreement also provides that both FR and FE have a 30 day "right to cure". On Jan. 1, 2023, FR discovers that FE has been fraudulently depriving FR of the 2% royalty by diverting franchise customers to another air freight transportation business privately owned by FE. On Jan. 1,2023 FR notifies FE that the franchise is terminated as of Jan. 1, 2023. FE tells FR that FE has a 30 day "right to cure" which prevents FR from terminating the franchise on Jan. 1, 2023. Also, within the 30 day "right to cure" period, FE pays FR the royalty that should have been paid. FR refuses to continue the franchise and FE files a lawsuit. Which of the following, if any, states what the outcome of this case is? Multple cnoice FE wins the case because FR failed to comply with the 30 day "right to cure". FE wins the case because FE paid the royalty that should have been paid, and did so within the 30 day "right to cure" period as provided in the contract. FR wins the case because the FE's payment of the royalty that was fraudulently withheld is an admission of wrongdoing. FR wins the case because the FE 's violation is so fraudulent that the FE is deemed to have waived the 30 day "right to cure". None of the other choices are correct. Multple Choice Partnershlp Corporation Franchlse Sole proprietorship