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Billy sold his warehouse to an interest buyer. bill received 350,000 in cash and the buyer...

Billy sold his warehouse to an interest buyer. bill received 350,000 in cash and the buyer took over his mortgage on his warehouse for $98,650. Billy also paid a comission of 10,250 on the transaction. what is billys amount realized in the transaction?
A. 350,000
B. 339,750
C. 448,650
D. 0
E. 438,400

please help me answer this asap.
business   accounting   
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Answer #1

Answer: E. 438,400

Calculations:

Cash received 350,000
Add: Mortgage taken 98,650
Less: Commissions paid -10,250
Amount realized from transaction 438,400
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