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proration Flashcards Typical pro accrued items includeUnpaid real estate taxesTenant's rent the seller collected for a period of time in which the buyer will own the propertyInterest on the seller's mortgage assumed by the buyer (if applicable) Accrued expensesgo in the seller's debit column.They're expenses that the seller owes at the day of closing, but that the buyer will eventually pay, so the seller gives the buyer a credit for these items at closing.A prorationis a proportionate calculation based on who ly owes an expense for a given period of time.items will be either accrued or prepaid.Prepaid items goin the seller's credit column and the buyer's debit
column.These include:Prepaid taxesRent paid by the seller
under a lease assigned to the buyerUtilities billed and paid in advanceHeating oil in the tank
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