A loss made on the disposal of a fixed assets i... - WAEC Accounting 2012 Question
A loss made on the disposal of a fixed assets is debited to
A
sales account
B
purchases account
C
profit and loss account
D
capital account
correct option: c
Loss on sale; Debit cash for the amount received, debit all accumulated depreciation, debit the loss on sale of asset account, and credit the fixed asset
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