1.

The Journal entry to record a gain ( profit) on the sale of fixed assets is : If Asset Disposal Account is not maintained :

Answer»

`{:("Debit","Credit"),("FixedAsset Account ","PROFIT and LOSS Account "):}`
`{:("Debit","Credit"),("BANK Account ","Profit and Loss Account "):}`
`{:("Debit","Credit"),("Profit and Loss Account "," Fixed Asset Account "):}`

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


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