1.

The Journal entry to record a gain ( profit) on the sale of fixed assets is : If Asset Disposal Account ismaintained :

Answer»

`{:("DEBIT","CREDIT"),("Asset DisposalAccount ","Profit and Loss ACCOUNT "):}`
`{:("Debit","Credit"),("FixedAsset Account ","Profit and Loss Account "):}`
`{:("Debit","Credit"),("Profit and Loss Account ","Asset DISPOSAL Account "):}`

Solution :`{:("Debit","Credit"),("Asset DisposalAccount ","Profit and Loss Account "):}`


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