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COST OF ASSETS 250000
ACCUMULATED DEPRECIATION 115000
SELLING PRICE 137500
PASS ENTRY FOR THE SALE OF ASSET.

Answers were Sorted based on User's Feedback



COST OF ASSETS 250000 ACCUMULATED DEPRECIATION 115000 SELLING PRICE ..

Answer / abhishek jain

bank a/c dr 137500
To profit on sale of assests a/c 2500
To sale of assest 135000

Is This Answer Correct ?    11 Yes 1 No

COST OF ASSETS 250000 ACCUMULATED DEPRECIATION 115000 SELLING PRICE ..

Answer / v.s.sujith

Bank A/c Dr 137500
To sale of assets 135000
To Profit on sale of assets 2500
Being sale of assets.

Detil:

COA- 250000
-Dep 115000
= 135000
-Sale 137500
=Profit. 2500

Is This Answer Correct ?    3 Yes 0 No

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