What is the journal entry for sale of a fixed asset, including payoff of a mortgage loan and net gain on the transaction? Under Category details, choose the expenses and assets you acquired.Then add a description. 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. Businesses sell merchandise for cash as well as on account. The journal entries for both types of transactions are discussed below. That's how you record the sale of a fixed asset in QuickBooks. Required: Show journal entries in the books of the company and prepare the balance sheet. Solution. Calculation of Purchase Consideration. But generally speaking I would create a journal entry to record the acquisition as follows.