opened on June $1.$

a$.$ How many performance obligations are included in the franchise arrangement?

b$.$ When does the franchisor recognize revenue for each performance obligation?

Sale of equipment

Training and assistance

Upfront fee

c$.$ Prepare the journal entries for the Krispy Donuts franchisor on January $1,$ March $31,$ April $1,$ and June $1.$

$\backslash$table$[[$Date$,$Account Name,$\text{'},$Dr$.,Cr.],[$Jan$.1,,$hat$(),0,0],[,$hat$(),0,0],[$Mar$.31,,=,0,0],[,,0,0],[$Apr$.1,,,0,0],[,$hat$(),0,0],[$To record sale of equipment.,,,$],[$Apr$.1,,$hat$(),0,0],[,*{*}^{},0,0],[$To record cost of equipment.,,,$],[$June $1,,$hat$(2),0,0],[,$hat$(),0,0]]$

d$.$ Assuming the franchisor has a December $31$ year$-$end, prepare any journal entries required on December $31.$

$\backslash$table$[[$Date$,$Account Name,Dr$.,Cr.],[$Dec$.31,$hat$(),0,0],[,,0,0]]$