Sale of Scrap Raw Material

In an income statement where do you post a sale of scrap raw material?

Comments for Sale of Scrap Raw Material

Equity
by: Anonymous

Hi there!
I have just started learning accounting on this website. I remember reading somewhere that any extra money you make that comes from selling anything that is scrap or written off is posted to equity and cash.

Cr Cash
Dr Equity

I hope this is correct. Please do comment for me to make sure that I am correct.
Kind Regards,
Kim

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