P18-2 Financial reporting during bankruptcy Minang filed a petition under Chapter 7 of the bankruptcy act and was liquidated by a court-appointed trustee. The following financial information was reported by the trustee:

Book Values Estimated Realizable Values Assets Cash $50,000 $50,000 Accounts receviable—net 80,000 70,000 Notes receivable 200,000 150,000 Inventories 50,000 50,000 Plant assets—net 250,000 300,000 Total assets $630,000 Liabilities Liability for priority claims $100,000 Liability for non-priority claims 50,000 Accounts payable, secured by accounts receivable 90,000 Notes payable, secured by notes receivable 180,000 Mortgage payable, secured by all plant assets 280,000 Total liabilities $700,000 REQuIRED 1. Determine the amount expected to be available for unsecured claims.

2. Determine the expected recovery per dollar of unsecured claims.

3. Estimate the amount of recovery for each class of creditors.