Question
How to sell and remove a sold asset from the asset register.
Hello! I have researched for hours how to sell an asset and remove from register. I am being told to create a journal entry to do so. I create the journal entry just as instructed which in turn made my asset not have a zero balance. I think I figured out that i then go to the cash account and transfer those funds to the asset account and that zeroed the account again, BUT the asset still remained in the asset register.
How do I correctly do this so the asset register reflects actual assets??
Thanks you!!