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Answer :
Final answer:
The correct appearance of the transaction on a settlement statement for a property sold at $125,000 would be a credit to the Seller for $125,000 and a debit to the Buyer for the same amount, even though it was listed at a higher value.
Explanation:
When a property is sold, the settlement statement reflects the actual sale price of the property rather than the listing price. Hence, the correct way to present the transaction on the settlement statement, where the property was listed at $127,000 and sold for $125,000, would be to show it as a credit to the Seller for the sale amount and a matching debit to the Buyer for the same amount.
In this scenario, the correct answer would be:
a. Credit the Seller $125,000 and Debit the Buyer $125,000
This means that the Seller receives an amount of $125,000, which is the actual price the Buyer has agreed to pay and has been debited for the purchase of the property.
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Rewritten by : Jeany
