Classify each of the following voluntary settlements as an extension, a composition, or a combination of the
Question:
a. Paying all creditors 30 cents on the dollar in exchange for complete discharge of the debt.
b. Paying all creditors in full in three periodic installments.
c. Paying a group of creditors with claims of $10,000 in full over 2 years and immediately paying the remaining creditors 75 cents on the dollar.
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Related Book For 
Principles Of Managerial Finance
ISBN: 978-0136119463
13th Edition
Authors: Lawrence J. Gitman, Chad J. Zutter
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