Banger Corporation purchased a division five years ago for $ 3,000. The division has been identified as a reporting unit that is cash-generating under IFRS. Management is reviewing the division for impairment of goodwill and has estimated the fair value of the reporting unit to be $ 3,200 and the units value in use to be $ 3,300. In addition, there would be $ 25 in direct costs should the company decide to sell. The carrying amounts of the divisions net assets, including the associated goodwill of $ 1,350 are listed below.

Carrying Amount of Net Assets Including Goodwill

Cash	$ 300
Receivables	450
Inventory	1,050
Property, plant, and equipment (net)	1,200
Goodwill	1,350
Less: Accounts and notes payable	(750)
Net assets, at carrying amounts/book value	$ 3,600

Required:

1. Determine if goodwill is impaired and provide the related journal entries, if any, under the rational entity model. Show calculations.
2. Determine if goodwill is impaired and provide the related journal entries, if any, under the cost recovery model. Show calculations.