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B. Assume that the seller owes $74,000 on a loan for the land. After receiving the $508,500 cash in (a), the seller pays the $74,000

B. Assume that the seller owes $74,000 on a loan for the land. After receiving the $508,500 cash in (a), the seller pays the $74,000 owed. Consider only the payoff of the loan, without considering the sale of the land. What is the effect of the payment on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? A = L + SHE Cash Payoff Loan Check $

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