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Indicate how much money will be paid to the creditor

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Reference no: EM132954356

Question - Xavier Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and the company retains only $26,900 in free cash. The following debts, totaling $46,550, remain:

 Government claims to unpaid taxes $7,700

Salary during last month owed to Mr. Key (not an officer) 19,525

Administrative expenses 4,150

Salary during last month owed to Ms. Rankin (not an officer) 6,925

Unsecured accounts payable 8,250

Indicate how much money will be paid to the creditor associated with each debt.

Reference no: EM132954356

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