Xavier Company is going through a bankruptcy. All assets have been liquidated, and the company retains only $26,200 in free cash. The following debts, totaling $43,050, remain:
Government claims to unpaid taxes |
7,000 |
Salary during last month owed to Mr. Key (not an officer) |
18,825 |
Administrative expenses |
3,450 |
Salary during last month owed to Ms. Rankin (not an officer) |
6,225 |
Unsecured accounts payable |
7,550 |
Indicate how much money will be paid to the creditor associated with each debt.
Administrative Expenses = 3,450
Government Claims to unpaid taxes=?
salary during last month owed to Mr. Key and Ms. Rankin=?