Cash/Bank A/c Dr 1000 P&L A/c Dr 7600 To Asset A/c 860

if u sale an asset for Rs.1000, which shows the book value of
8600. what will be the journal entry???

Question Posted / gopakumar.g

Answer Posted / 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/-)

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