Blue Spruce Corporation purchased a 25% interest in Krov Corporation on January 2, 2020, for $960. At that time, the carrying amount of Krovs net assets was $3,500. Any excess of the cost of the investment over Blue Spruces share of Krovs carrying amount can be attributed to unrecorded intangibles with a useful life of 20 years. Krov declared and paid a dividend of $13 and reported net income of $60 for its year ended December 31, 2020. Assume that Blue Spruce Corporation is a private enterprise that applies ASPE.

Prepare Blue Spruces 2020 entries to record all transactions and events related to its significant influence investment in Krov Corporation, assuming that Krovs shares are traded in an active market, Blue Spruce applies the FV-NI approach, and the fair value of Blue Spruces share of Krov Corp. at December 31, 2020, is $1,040. (Round answers to 2 decimal places, e.g. 52.75. 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 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
enter an account title to record investment purchase	enter a debit amount	enter a credit amount
enter an account title to record investment purchase	enter a debit amount	enter a credit amount
(To record investment purchase)
enter an account title to record collection of dividend	enter a debit amount	enter a credit amount
enter an account title to record collection of dividend	enter a debit amount	enter a credit amount
(To record collection of dividend)
enter an account title to record fair value adjustment	enter a debit amount	enter a credit amount
enter an account title to record fair value adjustment	enter a debit amount	enter a credit amount
(To record fair value adjustment)

Prepare Blue Spruces 2020 entries to record all transactions and events related to its significant influence investment in Krov Corporation, assuming that Blue Spruce applies the cost method to account for its investment in Krov (the shares are not traded in an active market). (Round answers to 2 decimal places, e.g. 52.75. 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 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
enter an account title to record investment purchase	enter a debit amount	enter a credit amount
enter an account title to record investment purchase	enter a debit amount	enter a credit amount
(To record investment purchase)
enter an account title to record collection of dividend	enter a debit amount	enter a credit amount
enter an account title to record collection of dividend	enter a debit amount	enter a credit amount
(To record collection of dividend)