Selling an asset

@Lovecats60 

That depends on what you mean by "there were several expenses recorded".  If you did not take depreciation on the equipment, you should contact a CPA/tax accountant.  If you sell a fixed asset that you did not take depreciation on, the IRS will still treat the sale as though you took depreciation and your gain will be your sale price less your basis (original cost less accumulated depreciation you should have taken).  Your gain will depend on the fixed asset's original cost and your length of ownership.     

Thank you for your answer. My CPA has already taken full depreciation on the asset. I'm just trying to record the sell, and wasn't sure how. 

@Lovecats60 

Just to confirm, your CPA has taken full depreciation but your original post mentions that you do not have any accumulated depreciation booked in QB, correct?  Without accumulated depreciation posted in QB, the entry to remove the fixed asset (FA) will require a debit entry that takes place of closing out the accumulated depreciation account that should have been recorded and removed when the FA was sold.  This will create an entry that your CPA will need to take into account when preparing your tax return.  You will need to set up an Other Income account called 'Gain On Sale Of Equipment' and an expense account called 'Ask My Accountant' if there isn't one already set up.

Then, here is the journal entry I would suggest:

Thank you very much. I do appreciate the help.