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Shi Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and the company retains only $26,600 in free cash. The
Shi Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and the company retains only $26,600 in free cash. The following debts, totaling $45,050, remain: . Government claims to unpaid taxes $ 7,400 Salary during last month owed to Mr. Key (not an officer) 19,225 Administrative expenses 3,850 Salary during last month owed to Ms. Rankin (not an officer) 6,625 7,950 Unsecured accounts payable Indicate how much money will be paid to the creditor associated with each debt. Answer is complete but not entirely correct. Types of Debts Amounts Administrative expenses $ 3,850 Salary during last month owed to Mr. Key and Ms. Rankin $ 12.850 O $ 3.716 C Government claims to unpaid taxes $ 26,600
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