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In 2020, Camel Corp. was forced into bankruptcy and begun to liquidate. The following selected account balances were taken from its statement of affairs: Book

In 2020, Camel Corp. was forced into bankruptcy and begun to liquidate. The following selected account balances were taken from its statement of affairs:

Book ValueEstd. Current Value

Assets pledged with partially secured creditorsP80,000P50,000

Total free assets220,000160,000

Book ValueAmount Unsecured

Preferred claimsP16,000P 0

Partially secured liabilities75,00025,000

Unsecured liabilities155,000155,000

What is the NET FREE ASSETS?

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