Presented below is net asset information related to the Teal Mountain Division of Horton, Inc.

Teal Mountain Division Net Assets As of December 31, 2020 (in millions)
Cash		$50
Receivable		151
Property, plant, and equipment (net)		2,061
Goodwill		162
Less: Notes payable		(2,151)
Net assets		$273

The purpose of the Teal Mountain 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 $319 million. Management has also received an offer to sell the division for $271 million. The book values and fair values are equal for all identifiable assets and liabilities.

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 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Debit Credit Account Titles and Explanation