If Concord Corporation uses the composite method and its composite rate is 7.5% per year, what entry should it make when plant assets that originally cost $127000 and have been used for 10 years are sold for $40000? 40000 Cash Accumulated Depreciation - Plant Assets Plant Assets 87000 127000 40000 Cash Plant Assets 40000 Cash 40000 87000 Loss on Sale of Plant Assets Plant Assets 127000 O Cash 40000 Accumulated Depreciation - Plant Assets 95250 Plant Assets 127000 Gain on Sale of Plant Assets 8250