Sold furniture $55000 - journal entries


Vinay B Gaonkar's image
Vinay B Gaonkar
Aug. 17, 2017, 8:24 a.m.

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Davneet Singh's image
Davneet Singh
Aug. 17, 2017, 7:14 p.m.

Suppose Furniture of value 60000 sold for 55000

We pass entry

Bank Dr 55000

Loss on Sale  5000

    To Furniture  60000

 

Suppose Furniture of value 50000 sold for 55000

Bank Dr 55000

    To Furniture  50000

     To Profit on Sake 5000

 

 

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Vinay B Gaonkar's image