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if u sale an asset for Rs.1000, which shows the book value of
8600. what will be the journal entry???
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Answer / madhulika2011
Cash or Bank A/C.....Dr. 1000
Loss on Sale A/C.....Dr. 7600
To Asset A/C..................8600
| Is This Answer Correct ? | 50 Yes | 3 No |
Answer / gopakumar.g
Cash/Bank A/c Dr 1000
P&L A/c Dr 7600
To Asset A/c 8600
(Being the asset sold @ a loss of Rs.7600/-)
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / akram khan
Purchaser a/c dr 10000
To Asset a/c 8600
To profit a/c 1400
| Is This Answer Correct ? | 8 Yes | 27 No |
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