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Three new calves are born during the spring of 2023 to MilkyWay dairy farms. The fair value to sell the calves is $2,500. By the
Three new calves are born during the spring of 2023 to MilkyWay dairy farms. The fair value to sell the calves is $2,500. By the summer of the same year, the overall value of the herd has increased by $3,100. The milk produced by the cows sells for $5,500. MilkyWay is a publicly traded company. Which of the following is included in the entry to record the increased value of the herd? dr. unrealized gain of loss $2,500 dr. biological assets $2,500 No entry is required. dr. biological assets $3,100
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