What is the journal entry for sale of a fixed asset, including payoff of a mortgage loan and net gain on the transaction? 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.In today's video we're going to jump into qbo and show you the proper way to set up your assets. You must submit a paper filing and a supplemental form to the Assessor's Office. Both forms are on our e-filing site. Access study documents, get answers to your study questions, and connect with real tutors for ACCOUNTING 3000 : ACTG 3000 at Santa Clara University. 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? Learn the foundations of fixed asset accounting, including definitions, formulas, and applications.