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Question
The home was sold on July 18. The next payment date is August 1. The buyer agreed to assume the seller's 6% loan which has a balance of $36,800 as of July 1. Interest on this loan would be prorated asa. debit buyer $77.16 and credit seller $106.84.
b. debit seller $77.16 and credit buyer $106.84.
c. credit seller $106.84 and charge buyer $106.84.
d. credit buyer $106.84 and charge seller $106.84.
Answer
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