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2. The following information are related to JVCD Corporation which is undergoing liquidation: a. A bank loan amounting to P455,000 is secured by inventories with book value of P525,000 and net realizable value of P350,000. b. Of the P1,120,000 accounts payable, P343,000 is secured by accounts receivable amounting to P413,000 which is 10% uncollectible. c. Property and equipment costing to P875,000 and which is depreciated by 20% has a net realizable value of P588,000. d. Other unrecorded liabilities are accrued interest payable on bank loan, P45,500; salaries payable, P112,000; taxes payable, P63,000; and trustee's fee, P52,500. e. Cash available before liquidation amounts to P87,500. Compute for the estimated deficiency to unsecured creditors and expected recovery percentage of unsecured creditors.How much is the total free assets? 2 The following data were taken from the statement of affairs of BABAGSAK CORP: Shareholder's equity P441,000 Accounts payable P367,500 Salaries payable 50,000 Taxes payable 72,500 Bonds payable (unsecured 735,000 Trustees expenses 55, 125 Loss on asset realization 551,250