Question: Labor, Inc. uses the composite method and its composite rate is 7.5 per year. The plant assets originally cost $120,000 and have been used for

Labor, Inc. uses the composite method and its composite rate is

Labor, Inc. uses the composite method and its composite rate is 7.5 per year. The plant assets originally cost $120,000 and have been used for 10 years are sold for $36.000 in 2020 The journal entry to record this sale should include a debit to accumulated Depreciation - Plant Assets for

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