This section is from the book "Real Estate Accounts", by Walter Mucklow. Also available from Amazon: Real Estate Accounts.
This account is for a house to be built for Mr. Brown at a cost of $2,000, which amount was charged to his contract or mortgage account. The house is not yet completed, and the unpaid balance of $325 appears among the liabilities.
© 2007-2021 StasoSphere.com