Uptown Cleaners is being liquidated. The building has been sold for a net of $670,000 but the mortgage due is $738,000. The remaining assets were sold with net proceeds of $154,000. Administrative costs, wages and benefits, and consumer claims equal $136,000. The firm also owes $58,000 in taxes. The secured claims total $46,000 and the unsecured claims are $138,000. What percentage of their total claims will the secured creditors be paid

Telecom co. enters into a two-year contract with a customer to provide wireless service (voice and data) for $40 per month. to induce customers, telecom co. provides a free phone. telecom co. normally sells the phone on a stand-alone basis for $200. telecom co. also charges the customer a one-time activation fee of $35.which of the following is true? a) there are two distinct performance obligations: the voice service and the data service b) the free phone constitutes as a marketing expense c) the activation fee is a separate performance obligationd) there are two distinct performance obligations: the wireless services and the phone