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

If Vaughn Manufacturing uses the composite method and its composite rate

If Vaughn Manufacturing uses the composite method and its composite rate is 7.5% per year, what entry should it make when plant assets that originally cost $133000 and have been used for 10 years are sold for $37000? Cash 37000 99750 Accumulated Depreciation - Plant Assets Plant Assets 133000 3750 Gain on Sale of Plant Assets 37000 Cash Accumulated Depreciation - Plant Assets Plant Assets 96000 133000 Cash 37000 Loss on Sale of Plant Assets 96000 Plant Assets 133000 Cash 37000 Plant Assets 37000

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