My company sold a building for 100,000
Net book value was 80,000
Closing costs paid my my company 6,000 which were real estate taxes and deed transfer fees
My company paid 2,000 in sellers assist closing costs
journal entry is
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1) Bank 100000 to Building 80000 to capital gain 20000 2) taxes 6000 to bank 6000 3) Seller assistant 2000 to bank 2000 I hope I haven't made any mistakes. :O -
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