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Mondesto Company has the following debts: Unsecured creditors $ 230,000 Liabilities...

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Accounting

Mondesto Company has the following debts:
Unsecured creditors $ 230,000
Liabilities with priority 110,000
Secured liabilities:
Debt 1, $210,000; value of pledged asset 180,000
Debt 2, $170,000; value of pledged asset 100,000
Debt 3, $120,000; value of pledged asset 140,000
The company also has a number of other assets that are not pledged in any way. If the company is liquidated, the creditors holding Debt 2 want to receive at least $142,000.
Required:
How much cash in total must be generated from the free assets so that the creditors associated with Debt 2 will receive exactly that balance?Mondesto Company has the following debts:
The company also has a number of other assets that are not pledged in any way. If the company is liquidated, the creditors holding
Debt 2 want to receive at least $142,000.
Required:
How much cash in total must be generated from the free assets so that the creditors associated with Debt 2 will receive exactly that
balance?
Answer is complete but not entirely correct.
ANSWERS IVE TRIED THAT ARE NOT CORRECT
-210,000
-412,000
-372,000
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