KINDLY ANSWER NO. 9 AND 10. THANK YOU

CORPORATE LIQUIDATION For Nos. 9 and 10 AAA Company is bankrupt and has undergone corporate liquidation. Presented below is its statement of financial position before the start of liquidation: Cash Machinery Building 300,000 500,000 1,200,000 Accounts payable Salaries payable Income tax payable Loan payable Mortgage payable Contributed capital Deficit 100,000 200,000 300,000 400,000 500,000 800,000 (300,000) Liquidation expenses amounting to P 600,000 were paid The loan payable is secured by a machinery with a fair value of P 300,000 The mortgage payable is secured by the building (fair value equal its book value) At the end of liquidation, the holder of loan payable received P 340,000 9. What is the amount received by the holder of accounts payable at the end of liquidation? A. 85,000 B. 15,000 C. 40,000 D. 60,000 10. What is the amount of net free assets available at the end of liquidation? A. 80,000 B. 40,000 C. 120,000 D. 200,000 Cisala sn