Question: Return to question Xavier Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and the company retains only $26,100 in free

Return to question Xavier Company is going through a Chapter 7

Return to question Xavier Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and the company retains only $26,100 in free cash. The following debts, totaling $42,550, remain: $ 6,900 Government claims to unpaid taxes Salary during last month owed to Mr. Key (not an officer) Administrative expenses Salary during last month owed to Ms. Rankin (not an officer) Unsecured accounts payable 18,725 3,350 6,125 7,450 Indicate how much money will be paid to the creditor associated with each debt. X Answer is complete but not entirely correct. Amounts $ 3,350 Types of Debts Administrative expenses Government claims to unpaid taxes Salary during last month owed to Mr. Key and Ms. Rankin $ 6,900 X $ 24,850 X

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