At the time it defaulted on its interest payments and filed for bankruptcy, the McDaniel Mining Company had the balance sheet provided in the Microsoft Excel Online file below. The court, after trying unsuccessfully to reorganize the firm, decided that the only recourse was liquidation. Sale of the fixed assets, which were pledged as collateral to the mortgage bondholders, brought in $380,000, while the current assets were sold for another $200,000. Thus, the total proceeds from the liquidation sale were $580,000. The trustee's costs amounted to $50,000; no single worker was due more than $2,000 in wages; and there were no unfunded pension plan liabilities. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below.

d. How much will the remaining general creditors receive from the distribution before subordination adjustment? If your answer is zero, enter "0". Do not round intermediate calculations. Round your answers to the nearest dollar. Account Amount Received Accounts payable $ 6350 0 Notes payable 3: 6350 0 Second mortgage bonds $ 6350 0 Debentures $ 6350 0 2:222:22" . 63500 Total $ 80110 0 What is the effect of adjusting for subordination? If your answer is zero, enter "0". Do not round intermediate calculations. Round your answers to the nearest dollar. Amount Received after Account subordination adjustment Notes payable $ 6350 0 S b d' t d u or Ina e $ 6350 Q debentures Liquidation Proceeds from sale of fixed assets $380,000 Proceeds from sale of current assets $200,000 Trustee's costs $50,000 Any single worker due more than $2,000 in wages? No Any unfunded pension plan liabilities? No Balance Sheet: Current assets $400,000 Accounts payable $50,000 Accrued taxes 40,000 Accrued wages 30,000 Notes payable 180,000 Total current liabilities $300,000 Net fixed assets 600,000 First-mortgage bonds* 300,000 Second-mortgage bonds* 200,000 Debentures 200,000 Subordinated debentures * 100,000 Common stock 50,000 Retained earnings -150,000 Total assets $1,000,000 Total claims $1,000,000 Notes: * All fixed assets are pledged as collateral to the mortgage bonds. **Subordinated to notes payable only.Pro Rata Distribution Original Before Subordination Distribution after Total Amount Claim General Creditors' Claims Amount of Claim Adjustment Subordination Adjustment Received Received Unsatisfied portion of first mortgage $0 Accounts payable 50,000 0 Notes payable (to banks) 180,000 OO Second mortgage Debentures 200,000 OO Subordinated debentures 100,000 OO Total claims $530,000 $0 Formulas e of Pro Rata Distribution Original Before Subordination Distribution after Total Amount Claim General Creditors' Claims Amount of Claim Adjustment Subordination Adjustment Received Received Unsatisfied portion of first mortgage #N/A #N/A #N/A #N/A Accounts payable #N/A #N/A Notes payable (to banks) #N/A #N/A #N/A Second mortgage #N/A #N/A #N/A #N/A Debentures #N/A #N/A Subordinated debentures #N/A #N/A #N/A Total claims #N/A