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.Additional Resources. What are the correct journal entries for the sale of a business per the closing statement and associated closing entries for capital assets? The company must record January's depreciation. In this article, we discuss what asset sales are, how they work and how to calculate a loss or gain because of an asset sale. In a journal entry, you must remove the original cost of the property and its accumulated depreciation from your records.