[Scooterhelp]

Which chart of accounts numbered should be assigned to a payment made for the sale of a store? The store was sold by one owner to another.

[morgaine300]

Always ask for account names, not numbers. Even though there's a traditional numbering system, it doesn't dictate specific numbers, and it doesn't mean it's even being used. In other words, your question really has nothing to do with a "chart of accounts."

Now getting past that, there isn't going to be just one account involved. (Although the "payment" is cash. Cash is literal - it either happened or it didn't.) This could be something fairly simple or something very complicated. There isn't any one simple answer. If both owners are sole proprietors, and you have no reason to start getting into stickier "official" stuff, this could be taken care of in a fairly simple fashion. But even then, what might be "fairly simple" to me might not be simple to you.

You also haven't even said which side you're trying to make the entries on -- the buyer or seller, or both. (That's kind of important information.)

My opinion is that this is better left to an accountant to take care of (in person), rather than trying to get it answered on a forum like this. Even if it's a fairly simple one, I think it's still better if someone can see the books and what is going on, and help guide you based on that. There also could be some different tax consequences that are different than book.

And I don't think you want to post your books on a forum.