Assume that at December 31,2023 , the records show inventory with a cost of $61,800 and a net realizable value of $63,000. Prepare the December 31, 2023 entry that is needed under the direct method and the indirect method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Assume that at December 31,2023 , the records show inventory with a cost of $61,800 and a net realizable value of $63,000. Prepare the December 31, 2023 entry that is needed under the direct method and the indirect method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)