Real Estate
Off-Plan Unit Sale — Initial Deposit Received
Recording a booking deposit from a buyer for an apartment that has not yet been built.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Bank | Asset (+) | 50,000.00 | - |
| Advance from Buyers (Deferred Revenue) | Liability (+) | - | 50,000.00 |
💡 Accountant's Note
Cash collected before the building is complete is a liability. Under IFRS 15, revenue is only recognized when control of the unit passes to the buyer — typically at handover.
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