Banking
Home Mortgage Loan — Disbursement
Disbursing a 20-year mortgage to a retail customer purchasing an apartment.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Mortgage Loans (Real Estate) | Asset (+) | 150,000.00 | - |
| Customer Account / Vendor Payment | Liability (-) | - | 150,000.00 |
💡 Accountant's Note
Mortgages are long-term secured loans. The property serves as collateral. Under IFRS 9, the origination fee is deducted from the initial carrying amount and amortized using the EIR over the 20-year term.
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