for the 300Dr what account does that go to ?

A month later, we sell the vehicle for $500. DR. Cash $500 (Asset) CR. Repos $800 (Asset) DR. $300 (Asset or Income Statement) The question, where does the $300 loss go? Going back to the original question: Repo is sold at a loss, should the loss go through 1. the allowance for loan losses on the balance sheet or 2. the income statement