C610 C · Collections and Receivables

To record the sale or disposition of personal property collected for replacement property.

Proprietary Proprietary Entry

DebitCredit

101000 Fund Balance With Treasury

131000 Accounts Receivable

175900 Accumulated Depreciation on Equipment

181900 Accumulated Depreciation on Assets Under Capital Lease

182900 Accumulated Amortization on Leasehold Improvements

183900 Accumulated Amortization on Internal Use Software

189900 Accumulated Depreciation on Other General Property, Plant, and Equipment

721000 Losses on Disposition of Assets - Other

175000 Equipment

181000 Assets Under Capital Lease

182000 Leasehold Improvements

183000 Internal Use Software

183200 Internal Use Software in Development

189000 Other General Property, Plant, and Equipment

711000 Gains on Disposition of Assets - Other

Comment

Sales proceeds on disposed personal property collected for a replacement property will have no budgetary entry until the obligation is subsequently incurred for the replacement property. In most cases, the proceeds will only be available for acquisition of the replacement property in the fiscal year that the old property was sold, then for 1 fiscal year thereafter. This entry may not be applicable to some agencies that have specific language in their legislation that allows them to keep the proceeds beyond 2 years.

Reference

See 41 CFR Chapter 101, "Federal Property Management Regulations" and GAO's Policy and Procedure Manual, dated May 1993, pages 7.5-8.9. Also see "Disposition of Personal Property 1998"; "General Fund Receipt Account Guide: Non-Custodial Statement Collections: Collection of Proceeds from Disposition of Personal Property 2021"

About this entry

Debits are shown left, credits right — the T-account form. Every account links to its full detail.

Source: Section III · p1sec3-transactions-2026.pdf