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Shi Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and the company retains only $26,100 in free cash. The following
Shi Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and the company retains only $26,100 in free cash. The following debts, totaling $42,550, remain:
Government claims to unpaid taxes | $ | 6,900 |
Salary during last month owed to Mr. Key (not an officer) | 18,725 | |
Administrative expenses | 3,350 | |
Salary during last month owed to Ms. Rankin (not an officer) | 6,125 | |
Unsecured accounts payable | 7,450 | |
Indicate how much money will be paid to the creditor associated with each debt.
admin expenses 3350
salary during last month owed to key and rankin?
government claims to unpaid taxes?
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