Bottomless Pit lnc. les a voluntaiy' pe1i1ion for bankruptcyr on l-llayr 1: EDGE. which includes the following assets and liabilities: Carrying Realizable Amount Amount $2.133} $2.131}: Accounts receivable ESE-Ell} Elm-DD inventory accc 3,1}00 Building EDIHI: 1313330 Equipment ESE-I} l Total Assets Sl SIESDDD Liabilities Accounts payable Loan payable LISDDD secured by building Liquidation costs payable Still]?! 515 ll-I} Prepare a Statement of Affairs and a Schedule of Esu'mated Amounts to be Recovered by Creditors as of Mayr 1: EDIE-L [in Mayr l, EDDK me E:anl'-o'l..lptcyr Ccurt appointed you as u'ustee to administer me assets and liquidate me companyr. Show the journal ema'ies tlansferring me assets and liabilies to you and for me ioliowing transactions for me month of Ill-lay EDGE: A Sold me building for $12D,UDD and paid 1i1e loan. B. Collected $1EIJEIIIIIG from me accounts receiyable. Remainder is uncullect-ible [2. Sold me equipment for sacco D. Paid me salaries and taxes payable- E- Sold all remaining inventory for $3,003 F. Faid liquidaiion costs. [3. DisU'ibuted setementto remaining creditors Prepare a Statement of Heaiizat-ion and Uquidaiion for Bottomless Pit for me mcndi of May 2003