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How do you post a journal entry for sale of a vehicle with depreciation?
Wiki User
∙ 9y ago
debit cash / bank
debit accumulated depreciation
debit loss on sale (if any)
credit asset
credit profit on sale (if any)
Wiki User
∙ 9y ago
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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 the sale of a vehicle?
Debit cash / bankCredit vehicle account
Journal entry for post dated cheque?
Debit expenses / accounts payableCredit bank
What is the journal entry when post dated cheque issued to supplier?
debit accounts payablecredit bank
How do you post the closing journal entry for sales returns?
debit sales accountcredit sales return 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 the sale of a vehicle?
Debit cash / bankCredit vehicle account
Why you post journal entry?
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
What is a post-dated journal entry?
Debit accounts payable / expensesCredit bank
What is the journal entry for post dated cheque is received?
debit bankcredit accounts receivable
Journal entry for post dated cheque?
Debit expenses / accounts payableCredit bank
How do you reverse a journal entry?
Change the signs on the original entry, ie. change the Debit to credit and vice-versa then re-post the journal.
Where in quick books to post the owners contribution?
Owners contribution can be posted by using journal entry transaction as there is no direct way to show owners contribution as only journal entry can be used to show that.
What is the journal entry when post dated cheque issued to supplier?
debit accounts payablecredit bank
How do you post the closing journal entry for sales returns?
debit sales accountcredit sales return account
Post the journal entry of 1500 unearned rent?
Debit cash /bank 1500Credit Unearned rent 1500
How do you post sales tax payable as journal entry?
debit sales tax expensecredit sales tax payable
