Crane Dairy began operations on April 1, 2020, with purchase of 200 milking cows for $6,460,000. It has completed the first month of operations and has the following information for its milking cows at the end of April 2020. Milking cows Change in fair value due to growth and price changes Decrease in fair value due to harvest Milk harvested during April 2020 (at net realizable value) $(211,000) (10,900) 62,000 Your answer is partially correct. Prepare the journal entries for Crane's biological asset (milking cows) for the month of April 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit 1 April, 2020 Biological Assets 6,460,000 Unrealized Gain or Loss 6,460,000 (To record purchase of milking cow) 30 April, 2020 Cash 62,000 Inventory 62,000