Benxa company was found to have difficulty paying debts (to fail/failite), and unsecured claims would be paid $50 for every $2,000. Brown Company has notes receivable from Benxa company of $50,000. Benxa Company's notes payable to Brown company are secured by inventories estimated at $18,000. How much is Brown Company's realizable receivables?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Benxa company was found to have difficulty paying debts (to fail/failite), and unsecured
claims would be paid $50 for every $2,000. Brown Company has notes receivable from
Benxa company of $50,000. Benxa Company's notes payable to Brown company are
secured by inventories estimated at $18,000. How much is Brown Company's realizable
receivables?
Transcribed Image Text:Benxa company was found to have difficulty paying debts (to fail/failite), and unsecured claims would be paid $50 for every $2,000. Brown Company has notes receivable from Benxa company of $50,000. Benxa Company's notes payable to Brown company are secured by inventories estimated at $18,000. How much is Brown Company's realizable receivables?
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