dr loss on asset retirement
dr accumulated depreciation
cr asset-server
if sold
cash would be debited and loss would be debited or gain credited
journal entry to write off a loan
example suman moters of rs 10000 is write off then what is the entry
debit Retained earningscredit loan to company
Debit bankCredit retained earnings
Debit notes payableCredit cash /bank
Debit retained earnings / amortizationCredit goodwill account
Debit bank accountCredit retained earnings
debit owners equitycredit purchases
Debit amortization of financing costCredit financing cost
debit retained earnings/cash / bankcredit patent account
debit bad debtscredit notes receivable
Debit bad debtsCredit accounts receivable