Montys Construction & Paving expanded its business by purchasing Alcott Maintenance, a division that provides road maintenance services. The division was purchased three years ago for $3,346,000 and has been identified as a reporting unit. The net assets for the division including goodwill are as follows:

Cash $271,000

Accounts Receivables 292,000

Inventory 788,000

Property, Plant & Equipment 1,015,000

Goodwill 1,345,000

Accounts Payable (125,000)

Unearned Revenue (81,000)

Net assets, at carrying amounts $3,505,000

The fair value of the Alcott Maintenance Division reporting unit as a whole is estimated to be $3,717,000. Management determines that the unit's value in use is $3,807,000.

a) Prepare, if any, appropriate journal entries for goodwill impairment assuming that Monty Construction & Paving is reporting under ASPE.

b) Prepare, if any, appropriate journal entries for goodwill impairment assuming that Monty Construction & Paving is reporting under IFRS.