Presented below is net asset information related to the Marin Division of Santana, Inc.

Marin Division Net Assets As of December 31, 2020 (in millions)
Cash		$75
Accounts receivable		208
Property, plant, and equipment (net)		2,619
Goodwill		204
Less: Notes payable		(2,614	)
Net assets		$492

The purpose of the Marin 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, 2017. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

At December 31, 2018, it is estimated that the division’s fair value increased to $348 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 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)