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Xavier Company is going throurh a chapter 7 bankruptcy. All asseta have been liquidated, and the company retains only $26,000 in free cash. The following
Xavier Company is going throurh a chapter 7 bankruptcy. All asseta have been liquidated, and the company retains only $26,000 in free cash. The following debts, totaling $43,050, remain:
Goverment claims to unpaid taxes $ 7,000
Salary during last month owed to Mr. key(not an officer) 18,825
Administrative expenses 3,450
Salary during last month owed to Ms. Rankin(not an officer) 6,225
Unsecured accounts payable 7,550
Indicate how much money will be paid to the creditor associated witheach debt.
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