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QUESTION 9 When Wright Company petitioned for Ch 7 bankruptcy, Information on its assets and liabilities was as follows: ASSETS Cash Accounts Receivable Inventory Land

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QUESTION 9 When Wright Company petitioned for Ch 7 bankruptcy, Information on its assets and liabilities was as follows: ASSETS Cash Accounts Receivable Inventory Land LIABILITIES Accounts Payable Wages Payable Mortgage Payable (secured by land) Notes Payable (secured by inventory) Book Value 10,000 60,000 70,000 50,000 Fair Value 10,000 20,000 55,000 45,000 130,000 30,000 6,000 20,000 95,000 In addition, bankruptcy court costs were estimated to be 12,000. During the course of the proceedings a Statement of Affairs was completed. On the Statement of Affairs, the Estimated Recovery Percentage for Unsecured Creditors was determined to be 52.86%. REQUIRED: Provide a list of the amounts that will be paid to each creditor in liquidation. For the toolbar, press ALT+F10 (PC) or ALT+FN+F 10 (Mac). BI VS Paragraph Arial 14px Click Save and submit to save and submit. Click Save All Answers to save all answers. 111 > > >

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