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ACCOUNTING 4401-Xavier Company is going through a Chapter 7 bankruptcy.

01 / 10 / 2021 Projects

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ACCOUNTING 4401-Xavier Company is going through a Chapter 7 bankruptcy.

Xavier Company is going through a Chapter 7 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 expenses3,450 Salary during last month owed to Ms. Rankin (not an officer)6,225 Unsecured accounts payable7,550 Indicate how much money will be paid to the creditor associated with each debt.Administrative Expenses = 3,450Government Claims to unpaid taxes=?salary during last month owed to Mr. Key and Ms. Rankin=?



International House, 12 Constance Street, London, United Kingdom,
E16 2DQ

Company # 11483120

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