New transfer from fixed asset account to bank account, the amount is equal to your sale price. 2. When we're talking about the gain or loss of the sale of an asset we need to be looking at net book value at the time of the sale.Our CTO shares four key things you need to know when booking a journal entry on a fixed asset depreciation. What are the correct journal entries for the sale of a business per the closing statement and associated closing entries for capital assets? A Balancing Transaction Entry is called a Journal Entry. This video explains how to calculate and account for a sale of an asset when there is a gain or loss.