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    razakka's Avatar
    razakka Posts: 1, Reputation: 1
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    #1

    Mar 17, 2011, 02:17 AM
    entry for sale of fixed asset?
    we sold old fixxed asset on below book value 4315
    amy8903's Avatar
    amy8903 Posts: 5, Reputation: 1
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    #2

    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.

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