Order of priority for paying creditors  LO7 Mosquito Ltd, whose capital consisted of $50 000 in fully paid shares, was wound up as a result of a court order. Its liquidator realised $671 650 from the sale of the company’s assets. This amount included $170 000 from the proceeds on sale of the company’s land and buildings. Debts proved and admitted were as follows. Unsecured notes $100 000 Debentures (secured by circulating security interest) 300 000 First mortgage on land and buildings 100 000 Trade accounts payable 80 000 PAYG tax instalment 780 Fringe benefits tax 2 000 Directors’ fees 3 000 GST 1 989 Employees’ holiday pay 5 000 Employees’ wages — 5 employees for 2 weeks at $400 per week 4 000 Secretary’s salary — 3 weeks at $240 per week 720 Managing director’s salary — 4 weeks at $600 per week 2 400 Sales commission 500 Liquidation expenses 3 000 Second mortgage on land and buildings 80 000 Liquidator’s remuneration 8 000 Required Show the order of priority of payment of debts for Mosquito Ltd and calculate the amount payable to the company’s trade accounts payable.