Sale of an asset in which the LLC carrys the loan. You can use the Check or Expense option to record the asset that you purchased.Make sure to set up the account on your Chart of Accounts first. In an asset sale, specific assets and liabilities are individually transferred from the buyer to the seller at closing via a bill of sale. A business usually has many assets. An asset sale occurs when a bank or other type of firm sells its receivables to another party. 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. The first step to selling your assets is locating a buyer. Once you have done this, you will likely agree to price and major terms surrounding the deal. Yes, you can sell a business with an SBA loan, but not without taking certain important measures.