How to record vehical loss entry

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jagdish dhurve (Querist)
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23 February 2016 Dear Sir,

we have sold vehicle - four wheeler @ Rs. 530000/-
opening balance of vehicle 700000/- in the fix assets so how to record the loss entry?

jagdish dhurve

jagdish dhurve (Querist)
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23 February 2016 please give solution as early as possible.

Ganeshbabu K

Ganeshbabu K (Expert)
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24 February 2016 Dr.Loss on sale of vehicle 170000
Dr.Depreciation
Dr.Sale of vehicle 530000
Cr.VEHICLE 700000

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