Question: If Crane Company uses the composite method and its composite rate is 7.5% per year, what entry should it make when plant assets that originally

If Crane Company uses the composite method and its composite rate

If Crane Company uses the composite method and its composite rate is 7.5% per year, what entry should it make when plant assets that originally cost $124000 and have been used for 10 years are sold for $32000? O Cash 32000 Plant Assets 32000 Cash 32000 Loss on Sale of Plant Assets 92000 Plant Assets 124000 Cash 32000 93000 Accumulated Depreciation - Plant Assets Plant Assets 124000 Gain on Sale of Plant Assets 1000 O Cash 32000 92000 Accumulated Depreciation - Plant Assets Plant Assets 124000

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