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    johnaja's Avatar
    johnaja Posts: 1, Reputation: 1
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    #1

    Oct 8, 2012, 02:23 PM
    What is the journal entry for the purchase of real estate
    What is the accounting journal entry to record the following real estate purchase:
    Sales Price: $17,000.00
    Closing cost: 507.00
    Gross: 17,507.00

    Escrow : 500.00
    Tax paid by seller: 504.00

    Cash from Borrower: $16,503.00
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Oct 9, 2012, 04:32 AM
    You need to attempt this one yourself
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