- Apr 7, 2015
- Reaction score
My company has just sold a vehicle which has been fully depreciated. The problem I have booking this transaction is that we sold the vehicle for $5,000, and we are letting them pay for it in monthly installments. The person who purchased it gave us a $600.00 down payment and will pay the balance due of $4,400 over a one year period. I know the final result will be a net loss on sale of asset since the blue book price is $7,250.00. I'm just not sure where to show what's still due and where to book the payments each month.