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Joshua is an unsecured creditor and Diana is a secured creditor of Newberry Hills Furniture, Inc. When Newberry declares Bankruptcy and the creditors are paid,
Joshua is an unsecured creditor and Diana is a secured creditor of Newberry Hills Furniture, Inc. When Newberry declares Bankruptcy and the creditors are paid, who has first priority for payment?
a.Joshua because he is an unsecured creditor.
b.Diana and Joshua because as creditors of Newberry they each receive an equal percentage of their debt.
c.Whichever creditor has the earliest claim.
d.Diana because she is a secured creditor.
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