• Jane Leeves declared voluntary Chapter 7 bankruptcy.After collecting all of Jane's assets, ($8,500 in cash plus $3,000 from the sale of her house) the bankruptcy trustee was trying to decide how to distribute the assets. Jane had the following creditors:
• Mortgage companyowed $87,000 (the trustee sold Jane's house for $90,000)
• Federal income taxes$11,000
• Office supply store open account$1,000
• Utility bill $1,000

How should the $11,500 be distributed?

The numbers are different please look carefully.