Ask Experts Questions for FREE Help !
Ask
    pht_1998's Avatar
    pht_1998 Posts: 1, Reputation: 1
    New Member
     
    #1

    Jan 24, 2012, 11:41 AM
    Record sale of an asset while carrying a note
    Sold a lot for $25,000 that I originally paid $10,500. I owner financed with $3,000 down but I'm not sure how to record the gain?

Check out some similar questions!

How do I record the sale of a fixed asset- using DDB depreceiation method? [ 2 Answers ]

purchased a fax machine of 1800.had a useful life of 3yrs & a salvage value of 300.use DDB depreciation method. Company offered to buy the fax machine for 1000.( proceeds received upon purchase)

Record the sale of a fixed asset [ 3 Answers ]

How to record the sale of a fixed asset at year end?

How do I record the cash received on the sale of a fixed asset? [ 1 Answers ]

We have sold one of our company vehicles and I need to know where I record the cash received from the sale. I know I'll have to do a journal entry to remove the fixed asset and accumulated depreciation from our books. Would the initial cash received go against a Miscellaneous Income account...


View more questions Search
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.