Is it compulsory to maintain the same for a company?
What is the journal entry on sale of an asset?
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Accumulated depreciation account
Replies (1)
bank Dr
loss on sale of asset Dr
to FA
to Profit on sale of asset
either profit or loss needs to be booked in above entry
loss on sale of asset Dr
to FA
to Profit on sale of asset
either profit or loss needs to be booked in above entry
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