A fixed assets fully written-down by a trader is now considered to be worth ₦5,000. The double entry required

Question

A fixed assets fully written-down by a trader is now considered to be worth ₦5,000. The double entry required to reflect this is debit

Accepted Answer

asset account credit capital account

Answer

asset account credit purchase account

Answer

capital account credit asset account

Answer

capital account credit profit and loss account

A fixed assets fully written-down by a trader is now considered to be worth ₦5,000. The double entry required to reflect this is debit