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At December 31, 2017, Blue Spruce Inc. is involved in a lawsuit. Under existing standards in IAS 37, prepare the December 31 entry assuming it is probable (and very likely) that Blue Spruce will be liable for $640,000 as a result of this suit. (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.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 Under existing standards in IAS 37, prepare the December 31 entry, if any, assuming it is probable (although not likely) that Blue Spruce will be liable for a payment as a result of this suit. (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.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 Under existing standards in IAS 37, prepare the December 31 entry assuming it is not probable that Blue Spruce will be liable for 640,000 as a result of this suit. (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.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 Prepare the December 31 entry assuming it is probable (and very likely) that Blue Spruce will be liable for $640,000 as a result of this suit. Assume that Blue Spruce follows ASPE. (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.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 Prepare the December 31 entry, if any, assuming it is probable (although not likely) that Blue Spruce will be liable for $640,000 as a result of this suit. Assume that Blue Spruce follows ASPE. (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.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017