standard journals

Dr: Asset (exclusive), Input VAT, Cr: Accounts Payable (inclusive)

Buy asset on credit with VAT

Dr: Asset (exclusive), Input VAT Cr: Bank (cash paid), Accounts Payable (rest)

Buy asset, part cash part credit

Dr: Accounts Receivable, Cr: Sales

Credit sale

Dr: Bank, Cr: Accounts Receivable

Cash received from customer

Dr: Depreciation Expense, Cr: Accumulated Depreciation (contra-asset)

Depreciation

Dr: Bad Debt Expense, Cr: Accounts Receivable

Write off a bad debt

Dr: Bad Debt Expense, Cr: Allowance for Doubtful Debts

Increase Allowance

Dr: Allowance for Doubtful Debts, Cr: Bad Debt Expense

Decrease allowance

Dr: Expense, Cr: Accrued liability

Accrued expense

Dr: Prepayment (asset), Cr: Bank

Prepaid expense

Dr: Asset Disposal, Cr: Asset (cost)

Disposal: remove cost

Dr: Accumulated Depreciation, Cr: Asset Disposal

Disposal: removal depreciation

Dr: Bank, Cr: Asset Disposal

Disposal: proceeds

Dr: Loss on Disposal (expense), Cr: Asset Disposal

Disposal: loss

Dr: Asset Disposal, Cr: Profit on Disposal (income)

Disposal: profit