A compulsory winding up in insolvency order was issued by the court in respect of Rock Bottom Ltd. The company had a capital of 65 000 fully paid ordinary shares of $1 each. The liquidator took possession of the companys assets which raised $873 145 on sale. Included in the sale proceeds was $221 000 from the disposal of the land and buildings. The creditors submitted their claims and the following debts were admitted as proven:

Liquidation expenses $3 900

Liquidators remuneration 10 400

Mortgage loan secured on land and buildings 130 000

Additional mortgage loan on land and buildings 104 000

Employees wages 5 employees for 2 weeks at $520 per week 5 200 Secretarys salary

3 weeks at $314 per week 942 Employees holiday pay 6 500

Sales commission 650 Managing directors salary 4 weeks at $780 per week 3 120

Directors fees 3 900

Trade creditors 104 000

Unsecured loan stock 130 000

Debentures (secured by circulating security interest) 390 000

PAYG tax instalment 1014

Fringe benefits tax 2 600

GST 2586

Required Show the order of priority of payment of debts for Rock Bottom Ltd and calculate the amount payable to the companys ordinary unsecured creditors

I want the answers with full working notes please...