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Question - Ataway Company has severe financial difficulties and is considering filing a bankruptcy petition. At this time, it has the following assets (stated at net realizable value) and liabilities:

Assets (pledged against debts of $74,000)

$124,000

Assets (pledged against debts of $138,000)

54,000

Other assets

84,000

Liabilities with priority

76,400

Other unsecured creditors

204,000

In a liquidation, how much money would be paid on the partially secured debt?

Accounting Basics, Accounting

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