- trial balance as of March 14, 2020. Debit Credit $ 58,000 $ 75,000 75,000 41,000 33,000 29,000 105,000 26,000 125,000 Accounts payable Accounts receivable Accumulated depreciation, building Accumulated depreciation, equipment Additional paid-in capital Advertising payable Building Cash Common stock Equipment Inventory Investments Land Note Payable-Colorado Savings and Loan (secured by lien on land and building) Note Payable-First National Bank (secured by equipment) Payroll taxes payable Retained earnings (deficit) Salaries payable (owed equally to two employees) Totals 105,000 150,000 40,000 35,000 95,000 200,000 26,000 176,000 30,000 $ 712,000 $712,000 Assume that the company will be liquidated and the following transactions will occur: Accounts receivable of $43,000 are collected with remainder written off. All of the company's inventory is sold for $65,000. Additional accounts payable of $35,000 incurred for various expenses, such as utilities and maintenance, are discovered. The land and building are sold for $121,000. The note payable due to the Colorado Savings and Loan is paid. The equipment is sold at auction for only $36,000 with the proceeds applied to the note owed to the First National Bank. The investments are sold for $71,000. Administrative expenses total $45,000 as of July 23, 2020, but no payment has been made yet. a. Prepare a statement of realization and liquidation for the period from March 14, 2020, through July 23, 2020. b. How much cash would be paid to an unsecured, nonpriority creditor that Lynch, Inc., owes a total of $8,000? Required A Required B Prepare a statement of realization and liquidation for the period from March 14, 2020, through July 23, 2020. (Negative amounts should be indicated by a minus sign.) Fully Secured Creditors Partially Secured Creditors Unsecured Nonpriority Liabilities Stockholders' Equity (Deficits) LYNCH, INC. Statement of Realization and Liquidation March 14, 2020 to July 23, 2020 Liabilities Cash Noncash with Assets Priority Book balances, 3/14/20 Accounts receivable collectedremaining balance assumed to be uncollectible Inventory sold Accounts payable discovered Land and buildings all sold Fully secured note paid Equipment sold Payment made on partially secured debt Investments sold Administrative expenses accrued Remaining partially secured claims reclassified as unsecured liabilities Final balances remaining for unsecured creditors Complete this question by entering your answers in the tabs below. Required A Required B How much cash would be paid to an unsecured, nonpriority creditor that Lynch, Inc., owes a total of $8,000? (Round your final answer to nearest whole dollar amount.) Cash paid Complete this question by entering your answers in the tabs below. Required A Required B How much cash would be paid to an unsecured, nonpriority creditor that Lynch, Inc., owes a total of $8,000? (Round your final answer to nearest whole dollar amount.) Cash paid