The racquet store (rs) sells franchise agreements in which they charge an up-front/initial fee of p50,000 for assistance in setting-up/opening a store, and then a monthly fee of p1,000 for national advertising and administrative assistance. steffi hingis signs a franchise agreement with rs. assume that steffi signed a p50,000 installment note when she signed the franchise agreement. rs can recognize revenue associated with the p50,000: