Chart of Accounts - Asset Disposal Journal

by Leanne
(Qld, Australia)

Hi, Trying to complete a journal for a Press Machine that has been sold at a loss.
DR Cash $2000 (Proceeds on Press Sale)
DR Accum Depn $700 (Write back on depreciation to date)
CR Press-Asset $3500 (Write back of original cost of asset)
DR Loss on Disposal $800 (Loss on Sale, Proceeds minus WDV)
What I want to know is where in the chart of accounts "loss on disposal" is found?

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