Xavier company is going through a chapter bankruptcy every

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Reference no: EM13350930

Xavier Company is going through a Chapter bankruptcy. Every asset have been liquidated, and the company retains only $25,700 in free cash. The following debts, totaling $40,550, remain:

Government claims to unpaid taxes $ 6,500

Salary during last month owed to Mr. Key (not an officer) 18,325

Administrative expenses 2,950

Salary during last month owed to Ms. Rankin (not an officer) 5,725

Unsecured accounts payable 7,050

Indicate how much money will be paid to the creditor associated with each debt. (Be sure to list liabilities in the order of priority.)

Government claims to unpaid taxes Salary during last month owed to Ms. Rankin Salary during last month owed to Mr. Key Unsecured accounts payable Administrative expenses

Salary during last month owed to Ms. Rankin Government claims to unpaid taxes Unsecured accounts payable Administrative expenses Salary during last month owed to Mr. Key and Ms. Rankin

Salary during last month owed to Mr. Key Salary during last month owed to Ms. Rankin Unsecured accounts payable Government claims to unpaid taxes Administrative expenses

Reference no: EM13350930

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