A married couple,with $25,000 in debts owed to each of five general creditors,plus $15,000 owed to a conditional sale vendor for home furnishings,sold their $100,000 home to the wife's parents for $50,000 and moved to an apartment.Thereafter they made a voluntary assignment,indicating remaining assets of the $50,000 cash and $15,000 in furnishings.Each general creditor will receive
A) $10,000.
B) $11,608.
C) $20,000.
D) $20,535.
E) None of the amounts are correct.
Correct Answer:
Verified
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