At the end of $2023,$ Blue Spruce Corp. has accounts receivable of $$2\mathrm{.}75$ million and an allowance for expected credit losses of

$$105,000.$ On January $16,2024,$ Blue determined that its $$24,200$ receivable from Crane Company will not be collected, and

management has authorized its write$-$off. On January $31,2024,$ Blue received notification that the company will receive $$0\mathrm{.}10$ for

every $$1\mathrm{.}00$ of accounts receivable relating to Sheridan Company The company had previously written off $100\%$ of the amount due

from Sheridan $($$$55,000).$

Prepare the journal entry for Blue to write$-$off the Crane receivable and any journal entry needed to reflect the notice regarding

Sheridan. $($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.$)$

Crane Company accounts receivable write$-$off:

Account Titles and Explanation

Debit $\_\_\_\_\_\_$

Credit $\_\_\_\_\_\_$

Sheridan Company reinstatement of partial accounts receivable for amounts previously written off and now determined to be

collectible:

Account Titles and explanation

Debit $\_\_\_\_\_\_\_$

Credit $\_\_\_\_\_\_$

Along with this, what is the estimated net realizable value of blues accounts recievable before and after the above entries $?$ what is the book value of blues accounts recievable before and after the above entries $?$

Before adjustments After Adjustments

Net reliazable Value $$\_\_\_\_\_\_$ $ $\_\_\_\_\_\_\_\_\_\_\_\_$

Book Value $ $\_\_\_\_\_\_\_\_\_\_$ $$\_\_\_\_\_\_\_\_\_\_\_\_\_$