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April 12, 2020, the designated notary signs the deed of sale of your buying clients....

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Accounting

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April 12, 2020, the designated notary signs the deed of sale of your buying clients. The adjustment date at the notary is set for April 15, 2020. AVAILABLE INFORMATION: Sale price: $625,000 Municipal assessment: $525,000 Annual municipal taxes paid in full: $5,400 School taxes paid in full: $875 The vendor let fills up for 500 liters the heating oil tank completely and paid an amount of $459.90 taxes included. The volume of the oil tank is 900 liters. The buyers take over (assume) the existing mortgage balance of the vendors. The balance as of April 1, 2020 is: $240,000. Amortization period: 20 years Compounded semi-annually (C/Y= 2) Monthly payments (P/Y=12) Term: 3 years Nominal interest rate: 6% The renumeration mentioned in the brokerage contract is 4% plus applicable taxes. The buyers left a deposit of $31,250 at the signing of the promise to purchase with the real estate broker. The adjustments for the school taxes are: (1 point)

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