JOURNAL ENTRY

Manoj Raj

Normal entry Debit cash or bank Credit Land account 1) If it's a profitable sale.. Then Debit cash or bank Credit Land account with Historical cost Credit gain on sale of Land which is revenue nature will be credited to Profit and loss account. 2) if Land sold for loss, Then Debit cash or bank Debit loss on sale of Land which is revenue nature , will be charged in profit and loss account. Credit Land account

Manoj Raj

Normal entry Debit cash or bank Credit Land account 1) If it's a profitable sale.. Then Debit cash or bank Credit Land account with Historical cost Credit gain on sale of Land which is revenue nature will be credited to Profit and loss account. 2) if Land sold for loss, Then Debit cash or bank Debit loss on sale of Land which is revenue nature , will be charged in profit and loss account. Credit Land account

Balachandar S

Yes bro