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Xavier Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and the company retains only $25,700 in free cash. The following

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Xavier Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and the company retains only $25,700 in free cash. The following debts, totaling $40,550, remain: Government claims to unpaid taxes $ 6,500 Salary during last month owed to Mr. Key (not an officer) 18,325 Administrative expenses 2,950 Salary during last month owed to Ms. Rankin (not an officer) 5,725 Unsecured accounts pavable 7.050 Indicate how much money will be paid to the creditor associated with each debt. Amounts $ 2,950 Types of Debts Administrative expenses Salary during last month owed to Mr. Key and Ms. Rankin Government claims to unpaid taxes

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