255 Duter Desing estate actions Practice Problem 1: Cash Sale Use the following information to prepare state ments on the worksheet provided. The solution to the problem is at the end of the chapter Settlement Date: May 4, 1970% Purchase Price: $48,500 Eamest Money: $8,000 Insurance Premium $29 (to be paid by the buyer Real Property Taxes: 51.620 unpaid Seller's Mortgage Satisfaction: 59 400 Termite Inspection SSO paid by buyer Revenue Stamps 597 quid by seller) Deed Recording SS SO Title Search: 5405 to be paid by buyer) Deed Preparation, $35 Broker's Fee: 7 25% Note: No penal property taxes allocated to the proy PRACTICE PROBLEM 1 WORKSHEET Settlement Date: Seller's Statement Debit Credit Buyer's Statement Debit Credit Totals 255 Duter Desing estate actions Practice Problem 1: Cash Sale Use the following information to prepare state ments on the worksheet provided. The solution to the problem is at the end of the chapter Settlement Date: May 4, 1970% Purchase Price: $48,500 Eamest Money: $8,000 Insurance Premium $29 (to be paid by the buyer Real Property Taxes: 51.620 unpaid Seller's Mortgage Satisfaction: 59 400 Termite Inspection SSO paid by buyer Revenue Stamps 597 quid by seller) Deed Recording SS SO Title Search: 5405 to be paid by buyer) Deed Preparation, $35 Broker's Fee: 7 25% Note: No penal property taxes allocated to the proy PRACTICE PROBLEM 1 WORKSHEET Settlement Date: Seller's Statement Debit Credit Buyer's Statement Debit Credit Totals