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9 of 43 - Seller's loan balance as of May 1 is $60,000. His current interest rate is 8%, the closing date is May 20.

9 of 43 - Seller's loan balance as of May 1 is $60,000. His current interest rate is 8%, the closing date is May 20. What is the prorated interest at closing, assuming seller owns the day of closing and using the 360-day method?

a. Debit seller $400.

b. Credit seller $267

c. Debit buyer $400

d. Debit seller $267

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