REFERENCE: Ref.13_06
Lucky Co.had cash of $65,000,inventory worth $117,000,and a building worth $169,000.Unfortunately,the company also had accounts payable of $234,000,a note payable of $104,000 (secured by the inventory),liabilities with priority of $26,000,and a bond payable of $195,000 (secured by the building).
-In a Chapter 7 bankruptcy,total free assets are calculated to be what amount?

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The Answer of REFERENCE: Ref.13_06
Lucky Co.had cash of $65,000,inventory worth $117,000,and a building worth $169,000.Unfortunately,the company also had accounts payable of $234,000,a note payable of $104,000 (secured by the inventory),liabilities with priority of $26,000,and a bond payable of $195,000 (secured by the building).
-In a Chapter 7 bankruptcy,total free assets are calculated to be what amount?

REFERENCE: Ref.13_06 Lucky Co.had Cash of $65,000,inventory Worth $117,000,and a Building Worth