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View Full Version : Entry for sale of fixed asset?


razakka
Mar 17, 2011, 02:17 AM
we sold old fixxed asset on below book value 4315

amy8903
Mar 17, 2011, 02:59 AM
If assets are sold below book value than there will be a loss. So debit the amount you have received from sales along with the difference amount as loss on sale and credit the amount( book value) of the assets to show the deduction of assets from your ledger.