Presented below is information related to Marigold Manufacturing Corporation Asset Cost Estimated Salvage Estimated Life in years) $46.500 $5.300 10 B 33.900 5.100 9 C 35.200 700 18,300 1.300 7 E 23300 2.900 6 Compute the rate of depreciation per year to be applied to the plant assets under the composite method. (Round answer to 2 decimai place. 3. 4.8.3.) Composite rate List of Accounts 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 account 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 $5,500. 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 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 Textbooks and Media List of Accounts