WAEC - Accounts Principles Of Accounts (2014 - No. 22)

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

Debit cash for the amount received, debit all accumulated depreciation, debit the loss on sale of asset account, and credit the fixed asset.