Admixture to 50 pounds of Bostik Tile-Mate. Mix to creamy consistency. Allow mixture to stand 15 minutes, and re-mix prior to application. Do not re-temper by adding more liquid. For installations over plywood, sheet vinyl/VCT, Ultra-Set Advanced, exterior applications, or when setting porcelain tile, Tile-Mate must be mixed with Tile-Mate
10 days before we perform the service, we charge the $800 (+tax) final payment to the customer. This needs to be posted as a liability (unearned income/revenue), not as revenue/income, because we haven't performed the service yet. We would also like to send the customer an updated estimate showing the $1,000 (+tax) cost, minus the $200 (+tax) deposit, minus the $800 (+tax) final payment, equals $0 outstanding.
In simple words, liability is an obligation of the entity to transfer cash or other resources to another party. Liability could for instance be a bank loan, which obligates the entity to pay loan installments over the duration of the loan to the bank along with the associated interest cost. Alternatively, an entity's liability could be a trade payable arising from the purchase of goods from a supplier on credit.