@buddy1955
You didn't mention whether you paid cash for the balance due ($2,417) of the 2024 iMac but I will assume you did. If you charged it to your cc, then replace the bank account line with your credit card liability account:
| | Debit | Credit |
| 2024 iMac Fixed Asset | 2,742 | |
| Accumulated Depreciation | 1,056 | |
| Loss on Disposal of Asset | 1,257 | |
| 2019 iMac Fixed Asset | | 2,638 |
| Bank Account/CC Liability | | 2,417 |
Even better than using a journal entry is to use an Expense (New > Expense) transaction. The line items would look like this:
1) Accumulated Depreciation $1,056
2) New iMac Fixed Asset $2,742
3) Loss on Disposal of Asset $1,257
4) Old iMac Fixed Asset -$2,638
That leaves the total amount as $2,417. Select your bank or credit card as the 'Payment account' and save it. That creates the exact journal entry as the one shown above but it will show under the vendor's account and will show in reports better than a journal entry. Either way works.
