please suggest me how to book entry in tally if i received cash by selling old vehilce.
please suggest me how to book entry in tally if i received cash by selling old vehilce.
Cash A/c Dr
Deprecation A/c Dr
Profit & Loss A/c Dr
To Vehicle A/c Cr
( Vehicle sold in cash loss on sale transfer to P&L )
If Profit on sale of Vehicle , then P&L account will be credited .
CAclubindia
