What is the journal entry for lost fixed assets?

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1146829

2026-05-17 18:10

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Debit Accumulated Depreciation

Credit Fixed Asset

If there the asset has a net book value, then you will have to Debit or Credit Gain or Loss on Sale of Asset for the difference. Also, you may have received money if the asset was sold or there may be a loan to payoff. Those transactions will need to be included in your entry as well.

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