• Answer of this question

    Sold furniture $55000 - journal entries
    Davneet Singh's image
    Davneet Singh

    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

     

     


    Written on Aug. 17, 2017, 7:14 p.m.