Business, 18.02.2020 20:15 shelbyp2003

Bill Buyer is assuming the loan of the seller, Sam Seller. Interest on the loan is being paid in arrears. The loan amount is $100,000 with an interest rate of 6%. The closing is occurring on March 15 with the next loan payment due April 1. Use the 365 days method and the Seller owns the day of closing. How would the interest proration appear on the worksheet?

A- $500 should be debited to the seller and credited to the buyer.

B- $500 should be debited to the buyer and credited to the seller.

C- $241.94 should be debited to the seller and credited to the buyer.

D- $241.94 should be credited to the buyer and debited to the broker.

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Bill Buyer is assuming the loan of the seller, Sam Seller. Interest on the loan is being paid in arr...

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