Answer Happy

ces Shi Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and the company retains only $27,700 in free cash. The following debts, totaling $50,550, remain: 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 $ 8,500 20,325 4,950 Types of Debts Administrative expenses Salary during last month owed to Mr. Key and Ms. Rankin Government claims to unpaid taxes 7,725 9,050 Indicate how much money will be paid to the creditor associated with each debt. Amounts $ 4,950