The following amounts are disclosed in a statement of financial affairs created for an insolvent corporation

that is beginning the process of liquidation. All assets are shown at net realizable values.

Required:

a$.$ The company owes $$27,000$ on an account payable to an unsecured creditor $($without priority$).$ How

much money can this creditor expect to collect?

b$.$ The company owes $$148,000$ to a bank on a note payable that is secured by a security interest

attached to property with an estimated net realizable value of $$104,000.$ How much money can the

bank expect to collect?

Answer is complete but not entirely correct.