Orville Company Recently Petitioned for Bankruptcy and Is Now in the Process

question 20

Multiple Choice

Orville Company recently petitioned for bankruptcy and is now in the process of preparing a statement of affairs.The carrying values and estimated fair values of the assets of Orville Company are as follows:
Debts of Orville are as follows:

-Based on the preceding information,what estimated amount will be available for general unsecured creditors upon liquidation?

• A)$28,000
• B)$93,000
• C)$113,000
• D)$121,000

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