Account 1
Definition
A statement of indebtedness from one person to another; an invoice.
A provider of professional services or of goods may render an account to a client or customer. A solicitor selling a house on a person’s behalf will render an account of the sale, which may show that the solicitor owes the seller the proceeds of the sale, less expenses.
Example
Example 1:
A Lagos lawyer who handled a property sale sends his client a detailed account showing the sale proceeds received, minus his legal fees and expenses, clearly stating what he owes the client.
Example 2:
A London solicitor renders an account to a homeowner after completing their house sale, itemizing all costs deducted and the net proceeds owed back to the seller.