Homework Answers
Answer:
| Unsecured creditors =$252,000 |
| Unsecured creditors from Debt 1(254,000-202,000)=$52,000 |
| Unsecured creditors from Debt 2(202,000-122000)=$80,000 |
| Total unsecured creditors=$384,000 |
| % of money Debt 2 want to receive=$49,600/$80,000 |
| =62% |
| Money should receive for unsecured creditors and liability with priorities from sale of free assets: |
| Money needed for liabilities with priorities=$132,000 |
| Money needed for unsecured creditors(384,000×62%) |
| =238,080 |
| Total money needed from sale of freed assets |
| (132,000+238,080)=$370,080 |
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