In a recent $10-$K report, United Parcel Service states it $$is the world's largest package delivery company, a leader in the U$.$S$.$ less$-$than$-$truckload industry, and the premier provider of global supply chain management solutions.$$ The following note and data were reported:

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NOTE $1$SUMMARY OF ACCOUNTING POLICIES

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Property, Plant and Equipment

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We review long$-$lived assets for impairment when circumstances indicate the carrying amount of an asset may not be recoverable based on the undiscounted future cash flows of the asset. If the carrying amount of the asset is determined not to be recoverable, a write$-$down to fair value is recorded. Fair values are determined based on quoted market values, discounted cash flows, or external appraisals, as appropriate.$$

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$$Dollars in MillionsCost of property and equipment $($beginning of year$)$$$43,674$Cost of property and equipment $($end of year$)48,726$Capital expenditures during the year$5,652$Accumulated depreciation $($beginning of year$)24,874$Accumulated depreciation $($end of year$)26,608$Depreciation expense during the year$2,282$Cost of property and equipment sold during the year$600$Accumulated depreciation on property sold$548$Cash received on property sold$24$

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Required:

$1.$ Reconstruct the journal entry for the disposal of property and equipment during the year.

$2.$ Compute the amount of property and equipment that United Parcel wrote off as impaired during the year, if any. $($Hint: Set up T$-$accounts.$)$

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NOTE $1$SUMMARY OF ACCOUNTING POLICIES

$$

Property, Plant and Equipment

$$

We review long$-$lived assets for impairment when circumstances indicate the carrying amount of an asset may not be recoverable based on the undiscounted future cash flows of the asset. If the carrying amount of the asset is determined not to be recoverable, a write$-$down to fair value is recorded. Fair values are determined based on quoted market values, discounted cash flows, or external appraisals, as appropriate.$$

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$$Dollars in MillionsCost of property and equipment $($beginning of year$)$$$43,674$Cost of property and equipment $($end of year$)48,726$Capital expenditures during the year$5,652$Accumulated depreciation $($beginning of year$)24,874$Accumulated depreciation $($end of year$)26,608$Depreciation expense during the year$2,282$Cost of property and equipment sold during the year$600$Accumulated depreciation on property sold$548$Cash received on property sold$24$