Your favorite pizza joint is being liquidated. The sales of all real estate netted $350,000 but the
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Your favorite pizza joint is being liquidated. The sales of all real estate netted $350,000 but the mortgage balance is $380,000. Equipment sales generated net proceeds of $62,000 while administrative costs, wages, benefits, and customer claims totaled $35,000. There are $17,000 in taxes due. Claims include $30,000 secured and $40,000 unsecured.
How much money will the secured creditors receive?
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ISBN: 978-1428318366
3rd Edition
Authors: Deborah E. Bouchoux
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