When an asset is sold, the entries for the accumulated depreciation are; debit
- assets disposal account; credit provision for depreciation account
-
provision for depreciation account; credit asset disposal account
- fixed asset account; credit asset disposal account
- asset disposal account; credit fixed asset account
The correct answer is: B
Explanation
Debit cash for the amount received, debit all accumulated depreciation, debit the loss on sale of asset account, and credit the fixed asset.