Construction
Surplus Material Sold to Third Party
Selling leftover materials (sand, aggregate, blocks) at project close-out to another contractor.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash in Bank | Asset (+) | 8,000.00 | - |
| Material Inventory / WIP | Asset (-) | - | 6,000.00 |
| Gain on Sale of Surplus Material | Revenue (+) | - | 2,000.00 |
💡 Accountant's Note
Surplus materials recovered at project close are sold at market rate. The gain (sale price minus book value) is Other Income for the contractor.
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