How to record the sale of a fully depreciated asset?

Debit Cash for the amount received
Debit Accumulated Depreciation for the amount of depreciation accumulated by the asset
Credit the asset for the cost of the asset
And either a Debit to loss on the sale of the asset or a Credit for gain on the sale of the asset

Practically:

Dr. Cash Rceived
Dr. Loss on the Sales of Asset (B/F)
Cr. Net value of asset at the time of sales
Cr. Gain on the sales of Asset (B/F)



Guys if you are any question about accounting treat please don't hesitate to Dial +9779847731656