Please include clear details and explanations to calculations. Thank you.

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 $26,000. Net Realizable Value $ 10,000 22,000 35,000 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 Book Value $ 10,000 36,000 49,000 7,000 6,000 64,000 94,000 54,000 69,000 86,000 123,000 74,000 10,000 15,600 12,000 76,000 72,000 39,000 Indicate the amount of money that each class of creditors can anticipate receiving. Amounts Free assets $ 86,000 $ 51,600 $ 34,400 $ 180,000 X Liabilities with priority Free assets after payment of liabilities with priority Unsecured liabilities Payment on notes payable (secured by land) Payment on notes payable (secured by buildings) Payment on bonds payable Payment on accounts payable (unsecured) Payment of salaries payable Payment of taxes payable Payment of administrative expenses X X $ 14,060 x