Question

what is the journal entries for sold of waste scrap​

Answer 1

Answer:

When you dispose of an asset item by scrapping it, a journal entry is automatically posted for it when you process the disposal in Asset Management > Disposal Processing.

General ledger entries are not made for additional books, if any are set up.

The journal entry records:

The reversal of the asset item's accumulated depreciation and depreciation basis.

Any gain or loss, if the asset item is not fully depreciated when it is disposed.