Products reported a​ write-down loss of for one of its plant assets on ​31, . The asset is currently held for disposal. At ​31, ​, the fair value of the asset increased by . Can record a​ recovery? Prepare the journal entry to record the recovery if it is permitted. Determine whether can record the recovery. can cannot can record the recovery since the asset is held for disposal, but only up to the previously recognized write-down. because U. S. GAAP does not permit firms to reverse write-down losses on assets held for disposal. because it exceeds the prior period write-down loss. for the total increase in fair value since the asset is held for disposal. since the asset is held for disposal, but only up to the previously recognized write-down. ​Now, prepare the journal entry to record the recovery if it is permitted as of ​31, . ​(Record debits​ first, then credits. Exclude explanations from any journal entries. If no entry is​ required, enter​ "No entry​ required" on the first account line and leave the remaining cells blank. Check your spelling carefully and do not​ abbreviate.) Account December 31, 2019