why 25 B transfer asset from book-to-book gross method hitting proceeds of sales clearing in source
Summary:
transfer asset from book-to-book gross method hitting creating below entry
in source book
Receivable DR 118000
proceeds of sales clearing Dr 118000
Accumulated depreciation dr 2000
To COST cr 120000
To proceeds of sales clearing cr 118000
Target book/ destination
Cost dr 120000
Cost clearing dr 118000
TO Accumulated depreciation Cr 2000
TO Accounts payable Cr 118000
TO Cost clearing cr 118000
Why proceeds of sales clearing & cost clearing lines are generating in source & target book respectively.
Content (please ensure you mask any confidential information):
25 B
Version (include the version you are using, if applicable):
25B
Code Snippet (add any code snippets that support your topic, if applicable):
0