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The Liabilities of Pocahontas Company Are Listed Below Pocahontas Company Liquidated Its Assets, Receiving $150,000 Cash

Question 18

Multiple Choice

The liabilities of Pocahontas Company are listed below:  Accounts payable $20,000 First Mortgage bonds payable $100,000 Debentures payable $$0,000\begin{array}{ll}\text { Accounts payable } & \$ 20,000 \\\text { First Mortgage bonds payable } & \$ 100,000 \\\text { Debentures payable } & \$ \$ 0,000\end{array} Pocahontas Company liquidated its assets, receiving $150,000 cash. The debenture holders will receive if the debentures are subordinated.


A) $40,000
B) $50,000
C) $30,000
D) $10,000

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