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The Walston Company is to be liquidated and has the following liabilities: Income taxes $ 3,90 126, eee 88, eee Notes payable (secured by land)
The Walston Company is to be liquidated and has the following liabilities: Income taxes $ 3,90 126, eee 88, eee Notes payable (secured by land) Accounts payable Salaries payable (evenly divided between two employees) Bonds payable Administrative expenses for liquidation 7,eee 73, eee 23, eee The company has the following assets: Current assets Land Buildings and equipment Book Value $ 83, eee 103,eee 103,eee Fair value $ 38,000 93,eee 122,eee How much money will the holders of the notes payable collect following liquidation? Total amount collected
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