Presented below is net asset information related to the Windsor Division of Horton, Inc Windsor Division Net Assets As of December 31, 2020 (in millions) Cash $50 Receivable 151 Property, plant and equipment (net) 2,086 Goodwill 159 Less: Notes payable 12.161) Net assets $285 The purpose of the Windsor 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 $323 million Management has also received an offer to sell the division for $284 milion. The book values and fair values are equal for all identifiable assets and liabilities. Your answer is correct. 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 O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Loss on Impairment Goodwill 1 At December 31, 2021, it is estimated that the division's fair value increased to $289 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 O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) ho Account Titles and Explanation Debit Credit