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A company preparing for a Chapter 7 liquidation has listed the following liabilities: Note payable A of $ 1 3 8 , 0 0 0
A company preparing for a Chapter liquidation has listed the following liabilities:
Note payable A of $ secured by land having a book value of $ and a fair value of $
Note payable B of $ secured by a building having a $ book value and a $ fair value.
Note payable C of $ unsecured.
Administrative expenses payable of $
Accounts payable of $
Income taxes payable of $
The company also has these other assets:
Cash of $
Inventory of $ but with a net realizable value of $
Equipment of $ but with a net realizable value of $
Required:
Based on this information, how much will each of the companys liabilities be paid as a result of the liquidation?
Amount
Payment on note payable A
Payment on note payable B
Payment on note payable C
Payment on administrative expenses
Payment on accounts payable
Payment on income taxes payable
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