Go to the Company menu. If the funds were put directly into an investment in the name of the business, then the entry would be:—.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. Assets are recorded on the balance sheet at cost, meaning that all costs to purchase the asset and to prepare the asset for operation should be included. Journalize entries for sale of assets. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. Should I use a Journal entry again and get rid of the asset and diminish my Loan to 0 and only then dispose the Fixed asset?