#114 December 1, 20XX We received a cheque from the lawyer for $1000000 that went into a 3% per annum 3 month term deposit for the sale of our building. Record the amount as a term deposit and as a gain/loss on disposal. The accountant said they will adjust at year end. The term deposit begins on December 1, and matures at the end of February 20XX+1 Properly record the 2 transactions recording any related fees as Professional Fees. Note the lawyer paid out the mortgage payable (a small amount of interest was also occurred). The entire investment of $80,000.00 was disposed of. Gain on Sale