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Xavier Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and...

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Accounting

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 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.

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