Finale company is in bankruptcy and is liquidating under the provisions of Chapter 7 of the bankruptcy code. The trustee has converted all the assets into $189,000 cash and has prepared the following lostof approved claims: how much will the bank receive on the note?

ACCP 472 Test Bank Chapter 18 5) Finale Company is in bankruptcy and is being liquidated under the provisions of Chapter 7 of the bankruptcy code. The trustee has converted all assets into $180,000 cash and has prepared the following list of approved claims: Customer deposits ($1,000 from each of three customers that ordered products that were never delivered) Property taxes payable Accounts payable, unsecured $3,000 6,000 45,000 24,000 90,000 Truste's fes and other costs of liquidation Mortgage payable, secured by property that was sold for $120,000 Note payable to bank, secured by all accounts receivable of which $45,00 were collected and $15,000 were written off as uncollectible 60,000 Required: How much will the bank receive on the note payable