Below are the steps to navigate to the Asset Management, which will be used for navigation in the rest of this course: 1. Then select Journal entry.On the first line, select the asset account you use to track the loan from the Account dropdown. Financial information for the HFA is presented in a separate column in the County's governmentwide financial statements. Asset disposal is the removal of a long-term asset from the company's accounting records. It is an important concept because capital assets. Journalize entries for sale of assets. Learn how to record a journal entry for disposals of fixed assets with example entries from various scenarios. This video explains how to calculate and account for a sale of an asset when there is a gain or loss. What are the correct journal entries for the sale of a business per the closing statement and associated closing entries for capital assets?