Agriculture
Sale of Live Animals
Recording the revenue from selling a live animal to another farmer or market.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Bank | Asset (+) | 1,200.00 | - |
| Biological Assets (Livestock) | Asset (-) | - | 1,100.00 |
| Gain on Sale of Livestock | Revenue (+) | - | 100.00 |
💡 Accountant's Note
The biological asset is removed at its current book (fair) value. Any difference between the sale price and book value is a gain or loss.
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