Creditors of Jones Corporation are considering petitioning the courts to force the company into Chapter 7 bankruptcy. The following information has been determined. Administrative expenses in connection with the liquidation are estimated to be $37,000. Cash Accounts receivable Inventory Supplies Investments Land Buildings Equipment Notes payable (secured by land) Notes payable (secured by buildings) Bonds payable (secured by equipment) Accounts payable Salaries payable (two weeks' salary for three employees) Taxes payable Free assets Liabilities with priority Free assets after payment of liabilities with priority Indicate the amount of money that each class of creditors can anticipate receiving. Amounts

Creditors of Jones Corporation are considering petitioning the courts to force the company into Chapter 7 bankruptcy. The following information has been determined. Administrative expenses in connection with the liquidation are estimated to be $37,000. Indicate the amount of money that each class of creditors can anticipate receiving. Indicate the amount of money that each class of creditors can anticipate receiving. Answer is complete but not entirely correct