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What amount will the bank receive if the unsecured creditor

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Problem 1: The Razel Company owes P15,000,000 on the mortgage of its building to City Bank. The building has a net book value of P20,000,000 and a fair value of P18,000,000. When Razel Company file for liquidation, it owed interest of P90,000; when the building was sold for P18,000,000, the interest due on the mortgage is P200,000. What amount will the bank receive if the unsecured creditors received 80% of their claims?

Reference no: EM132737303

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