Question: Current Attempt in Progress if Concord, Inc. uses the composite method and its composite rate is 7.5% per year, what entry should it make when

Current Attempt in Progress if Concord, Inc. uses the composite method and its composite rate is 7.5% per year, what entry should it make when plant assets that originally cost $60,000 and have been used for 10 years are sold for $19,500? (If no entry is required, select "No entry for the account titles and enter for the amounts. Credit account titles are automatically Indented when amount is entered. Do not Indent manually Account Titles and Explanation Debit Credit

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