sale of asset.
Hello,
there is a an asset value of $10000,( depr flag is unchecked) and life is 25 years
we sold this asset in $4000
after that we run gain and loss program., and create accounting., the below entry we can see in create accounting.
asset clearing account dr $4000
to sale of asset account cr $4000
acc. asset depr account dr $10000
to asset cost account cr $10000
my concern that what abouut the lost of $6000, for that we need to pass manually entry?
and what would be the entry?