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

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Accounting

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Presented below is net asset information related to the Splish Brothers Division of Santana, Inc The purpose of the Splish Brothers Division is to develop a nuclear-powered aircraft. If successful, traveling delays associated with refuefing could be substantially reduced. Mary other benefits would also occur. To date, management has not had much success and is deciding whether a write downat this time is appropriate Management estimated its future net cash flows from the project to be $425 milion Management has also recelved an offer to purchase the division for $330 million (deemed an appropriate fair value). All identlfiable assets' and liabilities book and fair value amounts are the same Prepare the journal entry to record the impairment at December 31,2025 . aif no entrvis required, select "No Entry for the occount siles and enter ofor the amounts. Credit dconount fitles are automotically inderited when amount is entered. Do not indent manuafhy. List debit entry before credit entry) List of Accounts Attempts: unlimited (b)

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