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    jasminelai15's Avatar
    jasminelai15 Posts: 2, Reputation: 1
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    #1

    Feb 3, 2014, 12:37 AM
    If no more asset how to enter and record
    If no more asset how to enter and record
    jasminelai15's Avatar
    jasminelai15 Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Feb 3, 2014, 12:37 AM
    If no more asset how to enter and record
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #3

    Feb 3, 2014, 07:40 AM
    What is your question. Are you saying a business sold or disposed an asset. If so your journal entry is:
    Debit Cash for the amount received
    Debit Accumulated Depreciation for the amount of accumulated depreciation
    Credit the Asset for the amount of the asset
    Debit Loss on sale of asset(or disposal) or Credit Gain on Sale(or disposal) of asset for the amount of difference between your debits and credits
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