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Post Info TOPIC: Journal help please


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Journal help please
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This is my post to this forum so please be gentle with me

Need some help please because its been such a long time and I cant remember how to do it. (brain not working)

A person sells a car (asset) from stock which is valued at £10000. He receives £9000 in cash (cheque) and an other car valued at £1000.

I need to record the sale of old car, receipt of 9k plus receipt of new car £1k.

Thanks in anticipation

Peter

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Guru

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Posts: 771
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Hi Peter

Assuming I have understood you correctly:

£10,000 Value of car sold from stock
Dr CoS
Cr Stock

£9000 Cheque received
Dr Bank
Cr Sales

£1000 Car received
Dr Stock
Cr Sales

Regards
Mark

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M & G Associates

Website www.mgassociates-accountancy-services.co.uk/

Accountancy Services Plymouth, Bookkeeping Payroll Sage Training

 

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