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How much money should the holder of the bond expect

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Question - Chesterfield Company holds cash of $58,000, inventory worth $106,000, and a building worth $138,000. Unfortunately, the company also has accounts payable of $188,000, a note payable of $88,000 (secured by the inventory), liabilities with priority of $32,800, and a bond payable of $166,000 (secured by the building). In a Chapter 7 bankruptcy, how much money should the holder of the bond expect to receive?

Reference no: EM133186403

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