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