Wildhorse Dairy began operations on April 1, 2020, with purchase of 200 milking cows for $ 6,500,000 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 $( 209,000) Decrease in fair value due to harvest ( 11,100) Milk harvested during April 2020 (at net realizable value) 64,000 Prepare the journal entries for Wildhorse'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 0 for the amounts ) Wildhorse Dairy began operations on April 1, 2020, with purchase of 200 milking cows for $ 6,500,000 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 $( 209,000) Decrease in fair value due to harvest ( 11,100) Milk harvested during April 2020 (at net realizable value) 64,000 A) Prepare the journal entries for Wildhorse'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 0 for the amounts ) B) Prepare the journal entry for the milk harvested by Wildhorse during 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 0 for the amounts ) C) Wildhorse sells the milk harvested in April on the local milk exchange and receives $ 64,000 Prepare the summary journal entry to record the sale of the milk for cash (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 0 for the amounts )

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Wildhorse Dairy began operations on April 1, 2020, with purchase of 200 milking cows for $ 6,500,000. It has completed the first month of operations

Wildhorse Dairy began operations on April 1, 2020, with purchase of 200 milking cows for $ 6,500,000. 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	$( 209,000)
	Decrease in fair value due to harvest	( 11,100)
Milk harvested during April 2020 (at net realizable value)		64,000

Prepare the journal entries for Wildhorse'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 0 for the amounts.)

Milking cows
	Change in fair value due to growth and price changes	$( 209,000)
	Decrease in fair value due to harvest	( 11,100)
Milk harvested during April 2020 (at net realizable value)		64,000

A) Prepare the journal entries for Wildhorse'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 0 for the amounts.)

B) Prepare the journal entry for the milk harvested by Wildhorse during 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 0 for the amounts.)

C)Wildhorse sells the milk harvested in April on the local milk exchange and receives $ 64,000. Prepare the summary journal entry to record the sale of the milk for cash. (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 0 for the amounts.)