What is the journal entry for sale of a fixed asset, including payoff of a mortgage loan and net gain on the transaction? To correctly reflect expenses in the current year, a GL Journal entry need to be recorded.This GL Journal entry should be reversed in the new year. 8. I'm going to show you a way to record the sale of a financed asset uh in QuickBook so you can record the gain rate record the cash you get. Select the Attachments link to attach a file with supporting documentation for user's journal entry. These files can be in the form of PDF, Excel, and.Doc. 11. The department to which the equipment is being transferred must complete the. Fuel your Miami-Dade small business with a RISE Loan! Dade County FCU offers lower barriers, personalized support, and competitive rates. Learn about the business valuation services offered to Miami and Florida companies for various purposes -Miami Valuations.