Gonne Corporation is being liquidated under Chapter 7 of the Bankruptcy Act. The trustee has determined that the unsecured claims will receive $.35 on the dollar. Odemay Corporation holds a $100,000 mortgage note receivable from Gonne that is secured by equipment with a $120,000 book value and a $75,000 fair value.

How much of the mortgage receivable will be recovered by Odemay?

Answer rating: 100% (QA)

Answer Mortage receivable from Gonne Corp 100000 A Fair Market Value of mor... View the full answer