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Please answer within an hour, will upvote and comment well. Thank you! The following data were taken from the general ledger of Outgoing Company as

image text in transcribedimage text in transcribedPlease answer within an hour, will upvote and comment well. Thank you!

The following data were taken from the general ledger of Outgoing Company as of August 1, 2021, before the company filed for bankruptcy: Fair Value Fair Book Value Book Value Value Assets: Liabilities: Cash P120,000 P120,000 Accounts Payable P750,000 120,000 600,000 600,000 Wages Payable (all have priority) Accounts Receivable Inventories 140,000 Land 900,000 650,000 Taxes Payable 2,000,000 1,600,000 Notes Payable (secured by receivables & inventory) 2,400,000 Building, net 2,200,000 1,600,000 Interest on Notes Payable 80,000 Equipment, net 2,500,000 1,000,000 Bonds Payable (secured by Land and 2,200,000 Building) Interest on Bonds Payable 110,000 Provide the answers for the following: (answers can be repeated) Of the total assets pledge to fully secured creditors, compute the estimated amount available or free assets intended to pay off unsecured creditors. Choose... Calculate (in total) the assets pledged to partially secured creditors. Choose... Choose... The total free assets or amounts available to pay off unsecured creditors (both with priority and without priority). The net free assets or total amount available for unsecured liabilities without priority. Choose... The amount that will be fully paid for the partially secured creditors. Choose... The amount that will be reclassified to unsecured creditors for the partially secured creditors. Choose... The total unsecured claims with priority. Choose... The total unsecured claims without priority. Choose... The total deficiency amount for unsecured creditors. Choose... The estimated recovery percentage. Choose... The total estimated gain/(loss) on realization of assets. Choose... The loss is to be absorbed by the stockholders. Choose

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