Question

Sold an old furniture of ₹20,000 for ₹12,000 (journal entry )

Answer 1

Answer:

old furniture a/c dr. 12000

to sales a/c 12000

Explanation:

because there is not given , sales is cash or credit

Answer 2

Answer:

Cash A/c    Dr     12000

Depreciation A/c    Dr    8000

       To Furniture A/c               20000

Explanation:

Since furniture is a fixed asset,any reduction in its value is considered depreciation.