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On April 1, 2020, Paul sold a house to Amy. The property tax on the...

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Accounting

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On April 1, 2020, Paul sold a house to Amy. The property tax on the house, which is based on a calendar year, was due September 1, 2020. Amy paid the full amount of property tax of $2,900. Required: Calculate both Paul's and Amy's allowable deductions for the property tax. Assume a 366-day year. (Do not round your intermediate calculations. Round your final answers to 2 decimal places.) Allowable Deductions Paul Amy

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