Computing and Recording Proceeds from the Sale of PPE The following information was provided in the 202010 -K of Hilton Worldwide Holdings, Inc. During the year ended December 31, 2020, we recognized $28 million of impairment losses related to property and equipment, including $4 million for finance lease ROU assets, which reduced the gross carrying value of property and equipment by $119 million, including finance lease ROU assets by $42 million, and the accumulated depreciation and amortization by $91 million, including finance lease ROU assets by $38 million. Note 7 also revealed that depreciation and amortization expense on property and equipment totaled $57 million in 2020 . The statement of cash flows reported that expenditures for property and equipment totaled $46 million in 2020 and that there were neither proceeds nor gain or loss on the sale of property and equipment during the year. REQUIRED 1. Using the information provided, prepare a journal entry or FSET to record: a. the acquisition of new property and equipment during the year; b. the recording of depreciation and amortization expense for the year: C. the impairment of the company's property and equipment during the year. 2. Do these entrics explain the changes in Hilton's balance sheet accounts for property and equip. ment? Most of the changes? Would a disposal transaction complete the picture