Ask Question
12 February, 00:48

Potomac Corporation wants to sell a warehouse that it has used in its business for 10 years. Potomac is asking $450,000 for the property. The warehouse is subject to a mortgage of $125,000. If Potomac accepts Wyden Inc.'s offer to give Potomac $325,000 in cash and assume full responsibility for the mortgage on the property, what amount does Potomac realize on the sale

+4
Answers (1)
  1. 12 February, 01:49
    0
    Potomac Corporation will realize $450,000 with the sale of the warehouse

    Explanation:

    To determine how much money Potomac Corporation realized with the sale of the warehouse we can use the following equation:

    money realized = sales price of warehouse + mortgage assumed by buyer

    money realized = $325,000 + $125,000 = $450,000
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Potomac Corporation wants to sell a warehouse that it has used in its business for 10 years. Potomac is asking $450,000 for the property. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers