Prepare the adjusting entry necessary at the end of the year to record depreciation for the year. (If no entry is required, select "No entry for the occount titles and enter for the amounts Credit account titles are automatically indented when amount is entered. Do not Indent manually. Use Plant Assets related account.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Prepare the entry to record the sale of asset for cash of $4,992. It was used for 6 years, and depreciation was entered under the composite method. (If no entry is required, select "No entry for the account tities and enter for the amounts, Credit account titles are automatically indented when amount is entered. Do not indent manually. Use Plant Assets related account.) Account Titles and Explanation Debit Credit