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.