Real Estate
Sale of Completed Unit (Buyer Uses Mortgage)
Recording a unit sale where the buyer finances the purchase through a bank mortgage.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Accounts Receivable (Bank/Buyer) | Asset (+) | 850,000.00 | - |
| Property Sales Revenue | Revenue (+) | - | 850,000.00 |
| Cost of Property Sold | Expense (+) | 500,000.00 | - |
| Property Inventory | Asset (-) | - | 500,000.00 |
💡 Accountant's Note
When a buyer uses a bank mortgage, the developer records a receivable from the buyer's bank. Cash arrives after the bank processes the disbursement, typically within a few days of signing.
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