Loty durch sides. Yahoo su N Women's Tory Burch shoes is.com Prepare the journal entry to record the impairment at December 31, 2020. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts At December 31, 2021, it is estimated that the division's fair value increased to $343 million. Prepare the journal entry to record this increase in fair value. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Credit Debit Account Titles and Explanation ter 12 X y tory burch slides - Yahoo Se N Women's Tory Burch Shoes plus.com courses/45316/assignments/5330233 tice and Question 8 nual --/1 cel Con- 5 View Policies Current Attempt in Progress Presented below is net asset information related to the Skysong Division of Santana, Inc. ns Support Skysong Division Net Assets As of December 31, 2020 (in millions) Cash Accounts receivable Property, plant, and equipment (net) Goodwill Less: Notes payable Net assets $68 201 2,612 218 (2,607) $492 The purpose of the Skysong Division is to develop a nuclear-powered aircraft. If successful, traveling delays associated with refueling could be substantially reduced. Many other benefits would also occur. To date, management has not had much success and is deciding whether a write-down at this time is appropriate. Management estimated its future net cash flows from the project to be $425 million. Management has also received an offer to purchase the division for $330 million (deemed an appropriate fair value). All identifiable assets and liabilities' book and fair value amounts are the same. Prepare the journal entry to record the impairment at December 31, 2020. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) A Loty durch sides. Yahoo su N Women's Tory Burch shoes is.com Prepare the journal entry to record the impairment at December 31, 2020. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts At December 31, 2021, it is estimated that the division's fair value increased to $343 million. Prepare the journal entry to record this increase in fair value. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Credit Debit Account Titles and Explanation ter 12 X y tory burch slides - Yahoo Se N Women's Tory Burch Shoes plus.com courses/45316/assignments/5330233 tice and Question 8 nual --/1 cel Con- 5 View Policies Current Attempt in Progress Presented below is net asset information related to the Skysong Division of Santana, Inc. ns Support Skysong Division Net Assets As of December 31, 2020 (in millions) Cash Accounts receivable Property, plant, and equipment (net) Goodwill Less: Notes payable Net assets $68 201 2,612 218 (2,607) $492 The purpose of the Skysong Division is to develop a nuclear-powered aircraft. If successful, traveling delays associated with refueling could be substantially reduced. Many other benefits would also occur. To date, management has not had much success and is deciding whether a write-down at this time is appropriate. Management estimated its future net cash flows from the project to be $425 million. Management has also received an offer to purchase the division for $330 million (deemed an appropriate fair value). All identifiable assets and liabilities' book and fair value amounts are the same. Prepare the journal entry to record the impairment at December 31, 2020. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) A