Real Estate
Monthly Mortgage Repayment (Principal + Interest)
Recording the monthly installment on a property mortgage.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Mortgage Loan Payable (Principal) | Liability (-) | 8,000.00 | - |
| Interest Expense | Expense (+) | 5,000.00 | - |
| Cash / Bank | Asset (-) | - | 13,000.00 |
💡 Accountant's Note
Each payment reduces the principal debt and recognizes the monthly borrowing cost. The interest portion is the only expense — the principal repayment is a balance sheet movement.
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