For nos. 39 and 40. A company enters into bankruptcy proceedings on April 30. Its balance sheet on that date is as follows: None of the liabilities are secured. The following transactions occur between April 30 and August 31: - Merchandise with a book value of P45,000 was sold for P30,000. - Plant and equipment with a book value of P40,000 was sold for P25,000. - Wages and administrative expenses of P10,000 were accrued. - An initial payment of 30 cents per dollar of indebtedness was paid to the unsecured creditors. The statement of realization and liquidation would show total: 39. "assets to be realized" 40. "liabilities not liquidated
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