How much does buyer owe seller in prorated property taxes, Financial Accounting

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How much does buyer owe seller in prorated property taxes

Problem

The seller of a property has paid $4,500 in property taxes for the year in advance. The closing date of the sale is December 10 and the buyer owns the home on the closing day. How much does the buyer owe the seller in prorated property taxes? Assume the year has 365 days.

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Financial Accounting: How much does buyer owe seller in prorated property taxes

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