On December $1$st$,2009,$ Fuego Inc. purchased commercial property in Russellville, AR for $$30$ million. The useful life of this property was expected to be $30$ years and Fuego Inc. used the straight$-$line method of depreciation. On December $1$st$,2019,$ a fire burns down Fuego Inc.$’$s corporate headquarters. At the time of the earthquake, the fair market value of the corporate headquarters was $$40$ million. In accordance with the insurance policy, the fair market value of the property is based on a third$-$party appraisal that took place shortly before the fire. Using external experts, Fuego Inc. and the insurance company determine and agree that the insurance company would compensate Fuego Inc. for $$35$ million in lieu of the increase in market prices of real estate. On December $31$st$,2019,$ the insurance company signs a document affirming that they will compensate Fuego for $$35$ million to be disbursed to Fuego$’$s account on April $30$th$,2020.$ Record all journal entries for the following set of transactions for the time span between December $1$st$,2019,$ and April $30$th$,2020.$

a$)$ The damage due to the fire $($if any is to be recorded$),$

b$)$ The insurance recovery receivable $($if any$),$ and

c$)$ Any gain contingencies to be recorded for the amount that the fair value exceeds the net book value.

d$)$ The receipt of $$35$ million from the insurance company.