Salamander Inc. is a food processing company that operates divisions in three major lines of food products: cereals, frozen fish, and candy. On 13 September 20X1, the Board of Directors voted to put the candy division up for sale. The candy divisions operating results had been declining for the past several years due to intense competition from large international players such as Nestl and Cadbury. The Board hired the consulting firm Atelier LLP to conduct a search for potential buyers. The consulting fee was to be 5% of the value of any sale transaction. By 31 December 20X1, Atelier had found a highly interested buyer for the candy division, and serious negotiations were underway. The buyer was a food conglomerate based in Brazil; it offered $6.2 million cash. On 25 February 20X2, after further negotiations, the Salamanders board accepted an enhanced Brazilian offer to buy the division for $6.5 million. The Salamander shareholders approved the sale on 5 March 20X2. The transfer of ownership took place on 31 March 20X2. Salamanders income tax rate is 20%. Other information is as follows (before tax, in thousands of dollars):

	13 September 20X1								31 December 20X1
	Book Value				Fair Value				Fair Value
Candy divisions net assets:
Current assets	$	1,060			$	980			$	920
Property, plant, and equipment (net)		6,100				4,600				4,800
Current liabilities		(1,200	)			(1,200	)			(1,200	)
	$	5,960			$	4,380			$	4,520
Net earnings (loss) of the candy division:
13 September to 31 December 20X1										620
1 January to 31 March 20X2										(730	)

Required: 1. Prepare whatever journal entries are appropriate at 13 September 20X1, 31 December 20X1, 25 February 20X2, 5 March 20X2, and 31 March 20X2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands, not millions or in whole Canadian dollar.)

Record the entry to write down capital asset to fair value, Income tax and record impairment loss.

• Record the entry to reclassify assets and liabilities as held for sale.
• Record the partial recovery in fair value less costs to sell for asset group, partially off setting the operating loss of $620.
• Record the acceptance of an enhanced brazilian offer to buy the division.
• Record the entry for the approval given by the shareholders for the sale.
• Record the entry for the final sale.