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Xavier Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and the company retains only $25,300 in free cash. The following
Xavier Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and the company retains only $25,300 in free cash. The following debts, totaling $38,550, remain:
Government claims to unpaid taxes $ 6,100 Salary during last month owed to Mr. Key (not an officer) 17,925
Administrative expenses 2,550
Salary during last month owed to Ms. Rankin (not an officer) 5,325
Unsecured accounts payable 6,650
Indicate how much money will be paid to the creditor associated with each debt.
type of debts Amounts
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