If a company sells land that it was holding for future use, the company will 1) debit Cash for the amount it receives, 2) credit Land for the amount in the general ledger account that applies to the land being sold, and 3) record the difference as a gain or loss on sale of land.

Since land does not get depreciated, there is no depreciation expense to be recorded up to the date of the sale, nor is there any accumulated depreciation to be removed from the books of the company.