I am wondering what journal do I have to do when I sell assets of my business. I know it isn't revenue and I want to decrease my assets account. The other problem is that I am seeling a piece of equipment that I paid $4000.00 for and am now selling it for the used market value of $2800.00. I need to decrease my asset account for more than the actual sale of the used equipment? I can't wrap my head around this, any help would be appreciated.
Thanks
Jen