Sale of Land Entry

Kishore Nuthalapati (Accountant for multiple small entities)   (171 Points)

27 May 2023  
Hi sir/madam

Could some please advise sale of Land Entry

A Land is sold at a price of 10 lacs rs
it's price is 5 lacs rs

Can I account in a proprietor accounts as

Bank 10 lacs
To Land 5 Lacs
To Capital 5 lacs

Please advise

Thanks