P8-44. Computing and Recording Proceeds from the Sale of PPE The following information was provided in the 2020 10-K of Hilton Worldwide Holdings, Inc.

Note 7: Property and Equipment ($ millions)

	2020	2019
Property and equipment, gross	$832	$889
Accumulated depreciation and amortization	(486)	(509)
Property and equipment, net...	$346	$380

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 as-sets 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 entries explain the changes in Hitlon's balance sheets accounts for property and equipment? Most of the changes? Would a disposal transaction complete the picture?