A statement of financial affairs created for an insolvent corporation that is beginning the process of liquidation discloses the following data (assets are shown at net realizable values):
| Assets pledged with fully secured creditors . . . . . . . . . . . . . . . . . | $ | 220,000 |
| Fully secured liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 160,000 | |
| Assets pledged with partially secured creditors . . . . . . . . . . . . . . | 390,000 | |
| Partially secured liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 510,000 | |
| Assets not pledged . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 310,000 | |
| Unsecured liabilities with priority . . . . . . . . . . . . . . . . . . . . . . . . | 182,800 | |
| Accounts payable (unsecured) . . . . . . . . . . . . . . . . . . . . . . . . . . | 400,000 |
a. This company owes $13,000 to an unsecured creditor (without priority). How much money can this creditor expect to collect?
b. This company owes $120,000 to a bank on a note payable that is secured by a security interest attached to property with an estimated net realizable value of $90,000. How much money can this bank expect to collect?
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