Selling an Asset before its depricated
PartySizeCycling
Member Posts: 10
I had purchased a camera last year and had it listed as an asset. This year I am deciding to upgrade it. I haven't taken any depreciation on it in the books so far. I sold it for less than I paid for it. Do I credit the sale against the asset and then journal the difference of the purchase price as depreciation to an expense account or should I just move the whole asset over to an expense since I kept it for less than a year?
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