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Windsong Housing Associates, Ltd.

Schedule M: Accounting Adjustments

Annual capital vs. expense accts

  Total 1987 1988
Dev.Costs Expensed to Oper.Exp.(A[19])      
Const.Fin.Expensed to Debt Service 575492 276341 299151
Oper.Exp.Capitalized      
Ground Rent Capitalized      
Perm.Fin.Int.Capitalized      
Total 575492 276341 299151



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