A trustee has gathered $65,000 for an estate and is preparing to liquidate it. How much...

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A trustee has gathered $65,000 for an estate and is preparing to liquidate it. How much money would be distributed to each creditor (including the Trustee who has not been paid), based on the following claims: a) Employee A, Unpaid wages b) Lawyer, hired by the trustee for the case c) Property taxes d) Income taxes e) Debtor's spouse, alimony arrears f) Fisherman g) Credit cards debts h) Trustee i) Utility bills $4,000 $3,000 $12,000 $6,000 $23,000 $2,000 $16,000 $6,000 $8,000 A trustee has gathered $65,000 for an estate and is preparing to liquidate it. How much money would be distributed to each creditor (including the Trustee who has not been paid), based on the following claims: a) Employee A, Unpaid wages b) Lawyer, hired by the trustee for the case c) Property taxes d) Income taxes e) Debtor's spouse, alimony arrears f) Fisherman g) Credit cards debts h) Trustee i) Utility bills $4,000 $3,000 $12,000 $6,000 $23,000 $2,000 $16,000 $6,000 $8,000

Answer rating: 100% (QA)

Steps to distribute the 65000 among the creditors 1 The claims have priority in ... View the full answer