Real Estate
Mortgage Loan Drawdown
Receiving the first tranche of a construction mortgage from the bank.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Bank | Asset (+) | 2,000,000.00 | - |
| Mortgage Loan Payable | Liability (+) | - | 2,000,000.00 |
💡 Accountant's Note
Construction mortgages are often drawn in tranches as construction milestones are achieved. Each drawdown increases the loan liability.
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