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How much can muzan corporation expect to receive

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Problem 1: Demon Slayer Inc. owes Muzan Corporation P60,000 on account, which is secured by accounts receivable with a book value of P50,000. The unsecured portion is considered a claim under the bankruptcy law, Demon Slayer Inc. has filed for bankruptcy. It's statement of affairs list the account receivable securing the Muzan Corporation with an estimated realizable value of P45,000. If the dividend to general unsecured creditors is 80% how much can Muzan Corporation expect to receive?

Reference no: EM132739936

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