How to record in case of gain from disposal of fixed assets?

21

Hi There
The journal entry would be

Dr Bank

22

The journal entry would be
Dr bank $6,000
Cr Fixed Asset (5,000)
Cr Profit on sale of Asset ($1,000)

23

@Beery, in Manager, sale of a fixed asset is not recorded with a journal entry, but with a receipt. When the asset is disposed, any gain or loss is automatically posted to the Fixed assets - loss on disposal account. (If there is a gain, the posting is contra.) See Dispose of fixed assets | Manager, which was linked above.