This section is from the book "Real Estate Accounts", by Walter Mucklow. Also available from Amazon: Real Estate Accounts.
The original consideration for property may have been entirely cash; or cash in part, with mortgages in some form. Beyond this there are taxes, insurance, interest, and improvements to be considered, and, after the proper entries have been made, the amount charged against the property will represent its actual cost at the time of the sale.
 
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