Presented below is net asset information related to the Sage Hill Division of Santana, Inc. Sage Hill Division Net Assets As of December 31, 2020 (in millions) Cash $55 Accounts receivable 204 2,599 Property, plant, and equipment (net) Goodwill 205 Less: Notes payable (2,594 ? Net assets $469 The purpose of the Sage Hill 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 $445 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. (a) 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 At December 31, 2021, it is estimated that the division's fair value increased to $345 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.) Debit Credit Account Titles and Explanation