Homework answers / question archive / A seller sold his property for $375,000, with the closing on July 1st, in a jurisdiction where the buyer pays for the day of closing

A seller sold his property for $375,000, with the closing on July 1st, in a jurisdiction where the buyer pays for the day of closing

Accounting

Share With

A seller sold his property for $375,000, with the closing on July 1st, in a jurisdiction where the buyer pays for the day of closing. The seller had a mortgage balance at the time of 2 closing of $301,000, and had recently paid invoices of $400 for the second quarter's water and electricity, $1,200 for new appliances, and roofing repairs of $700. Based only on these items, how much will the seller receive at closing? A. $71,700 B. $72,400 C. $73,600 D. $74,000