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Debit cash / bank
debit accumulated depreciation
debit loss (if any)
Credit Vehicle account
credit profit (if any)
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∙ 9y ago
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How do you post a journal entry for the sale of a vehicle?
Debit cash / bankCredit vehicle account
How do you post a journal entry for sale of a vehicle with depriciation?
The amount received for sale of the vehicle with depreciation is compared to the vehicle's net value and debited as a loss or credited as a gain.
How do you post a journal entry for sale of a vehicle with depreciation?
debit cash / bankdebit accumulated depreciationdebit loss on sale (if any)credit assetcredit profit on sale (if any)
What needs to happen when recording a journal entry for a sale account?
When recording a journal entry for a sales account, ensure that the sales are strictly done on credit terms.
How do you record a journal entry for sale of equipment?
Debit cash / bankCredit equipment
How do you post a journal entry for the sale of a vehicle?
Debit cash / bankCredit vehicle account
How do you post a journal entry for sale of a vehicle with depriciation?
The amount received for sale of the vehicle with depreciation is compared to the vehicle's net value and debited as a loss or credited as a gain.
How do you post a journal entry for sale of a vehicle with depreciation?
debit cash / bankdebit accumulated depreciationdebit loss on sale (if any)credit assetcredit profit on sale (if any)
What is the journal entry for consignment sale?
profit
How to pass journal entry for labour bill which is including service tax in tally?
go to tally open vocher press f7 and make sale and purchase entry
What is the journal entry to record the sale of a company vehicle by an outside party for the exact dollar amount as the loan on the books?
debit loan accountcredit asset account
What needs to happen when recording a journal entry for a sale account?
When recording a journal entry for a sales account, ensure that the sales are strictly done on credit terms.
What is the journal entry for the sale of a corporation?
Debit cash /bankdebit liabilitiesCredit assets
How do you record a journal entry for sale of equipment?
Debit cash / bankCredit equipment
What need to happen when recording a journal entry for a sale account?
To record a journal entry for sales, the possession of goods or services is transferred from business to client or end user.
What are journal entries for sale of vehicle for a non profit entity?
debit cashcredit vehicle
When you made sale is it compulsory to make journal entry?
Whenever any business transaction occur It is compulsory to make journal entry so this is true in case of sales as well.
