Accounting entries for the sale of patented technology

When the patented technology is sold, the actual money received is included in the bank deposit account, and the accumulated amortization amount and intangible assets impairment reserve amount are carried forward.

The accounting treatment of selling patented technology is,

Debit: bank deposit,

Accumulated amortization,

Intangible assets impairment reserve,

Loan: intangible assets,

Taxes payable-VAT payable,

Asset disposal gains and losses (or debits).