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How does journal entry looks like for the sales transaction

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Question: How does the journal entry looks like if a company sold something with less price than the expected value? For example, company A bought a car for 100,000 and expected last for 3 years. The vehicle was expected to be sold for 10,000 after 3 years.

Actually company A sold the car 5 years after the purchase and for the price of 1,000

The remaining value of the car after 3 years should be 10,000 right?

How does the journal entry looks like for the sales transaction?

Reference no: EM132758201

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