Telecommunications
Certified Pre-Owned Device Sold
Selling a refurbished trade-in device through the telecom's certified pre-owned programme.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Customer Payment | Asset (+) | 120.00 | - |
| Pre-Owned Device Revenue | Revenue (+) | - | 120.00 |
| Cost of Pre-Owned Device (COGS) | Expense (+) | 80.00 | - |
| Used Device Inventory | Asset (-) | - | 80.00 |
💡 Accountant's Note
Pre-owned devices generate revenue at a higher margin than new devices since the trade-in cost is low. Revenue and COGS are recognized at the point of sale.
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