Blue Spruce Corporation purchased a $25\%$ interest in Krov Corporation on January $2,2023,$ for $$1,100.$ At that time, the carrying amount of Krov's net assets was $$4,100.$ Any excess of the cost of the investment over Blue Spruce's share of Krov's carrying amount can be attributed to unrecorded intangibles with a useful life of $20$ years. Krov declared and paid a dividend of $$17$ and reported net income of $$60$ for its year ended December $31,2023.$

Prepare Blue Spruce's $2023$ entries to record all transactions and events related to the investment in its associate. Assume that Blue Spruce is a publicly accountable enterprise that applies IFRS. $($Round answers to $2$ decimal places, e$.$g$.52\mathrm{.}75.$ 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 O for the amounts. Record entries in the order displayed in the problem statement. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

$($To record collection of dividend$)$

$($To record investment income$)$

$($To record amortization of fair value difference$)$