Entry for sale of vehicle

cash a/c dr. 2 L

bank a/c dr. 2L

loss on sale (if any) a/c dr. (e.g. 3L)

        to vehicle a/c 2+2+3 L 

ya.i agrd wid adithya & mihir

Dear

Above all the Profit or Loss on Sale out of realization also tobe considered & accounted

The correct entry i think is:-

If cheque is not deposited on same day:

CashA/c............Dr  400000

P&LA/c.....LossDr

       To Vehicle A/c    WDV value of asset     

        To P&LA/c.....Profit

If cheque is deposited on same day:

Bank A/c................Dr  200000

Cash A/c................Dr 200000

 P&LA/c.....LossDr

               To Vehicle A/c    WDV value of asset    

                To P&LA/c.....Profit

Bank A/c................Dr  200000

Cash A/c................Dr 200000

 P&LA/c.....LossDr

               To Vehicle A/c    WDV value of asset    

                To P&LA/c.....Profit