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Journal entry for sale of asset in profit /loss
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Answer Posted / ramesh basavani
1.asset clearing a/c Dr 100/-
Accumulated Depreciation Dr 50/-
Revenue/Expenses on asset Dr (if applicable) 20/- Revenue
Sale of Asset Cr 150
Profit/loss on sale of asset Cr 20/-
2. Customer a/c Dr 100/-
Asset Clearing a/c Cr 100/-
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