Accountancy, asked by zahedbinhaseen9930, 1 year ago

How to record a loss on the sale of equipment?

Answers

Answered by anandkumar1832p4i4bg

0

Loss on sale. Debit cash for the amount received, debit all accumulated depreciation, debit theloss on sale of asset account, and credit the fixed asset. Gain on sale. Debit cash for the amount received, debit all accumulated depreciation, credit the fixed asset, and credit the gain on sale of asset account.

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