Reference no: EM132982429
Question - The trustee for the DOWNFALL, Inc. prepares a statement of affairs which shows that unsecured creditors whose claims total P60, 000 may expect to receive approximately P36, 000 if assets are sold for the benefit of creditors.
-A is an employee who is owed P1, 500.
-B holds a note for P2, 000 on which interest of P100 is accrued; nothing has been pledged on the note.
-C holds a note of P12, 000 on which interest of P600 is accrued; securities with a book value of P13,000 and a realizable value of P10,000 are pledged on this note.
-D holds a note for P5,000 on which interest of P300 is accrued; property with a book value of P4,000 and a realizable value of P6,000 is pledged on the note.
Required - How much may each of the following creditors hope to receive?
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