Question: please help with my real estate class Rosie Malone soid her house to D.M. Band. The contract was signed on June 1, 2023, and closing

please help with my real estate class  please help with my real estate class Rosie Malone soid her

Rosie Malone soid her house to D.M. Band. The contract was signed on June 1, 2023, and closing was set for Jume 25,2023 . Rosie had prepaid her three-year pest and termite protection policy in the amount of $1,825 on April 1, 2022, and D.M. agreed to assume it at closing. Water and sewer are paid the first of each month for the previous month. They are estimated to total $200 for June. D.M, also agrees to assume Rosie's mortgage, which will have a balance of $85,385 on date of closing. Monthly payments are $569.23, whth interest for June of $204.62, payable on the first of the month for the previous month. The seller is responsible for the day of closing. Required: How would the pest and termite protection premium be prorated? Note: Round intermediate calculations to 3 decimal places and your final answers to 2 decimal places

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!