86 – Interest – Real Estate Mortgage

Overhead Expenses

 

Synopsis

Account 86

Debits

Credits

  1. All interest, paid or accrued, on mortgages payable (secured by real estate used in the automotive business).

 

 

Remarks:

This expense relates only to interest on real estate mortgage on property owned and used by the business.  It does not include interest on financed vehicles, notes payable, or contents mortgages.