When Friendly Bank loaned Bonnie Bizperson $50,000 for her business start-up loan, Bonnie Bizperson signed a note for repayment of the loan and signed a security agreement giving Friendly Bank a security interest in "all fixtures, equipment, goods, accounts and general intangibles" of her business. Bonnie Bizperson still has possession and control over the collateral, which she uses in her business. Fred Forgetful, an employee of Friendly Bank, prepared the UCC-1 financing statement form, but forgot to file it in the appropriate government office.

Does Friendly Bank have a perfected security interest in the collateral? Why or why not? If Bonnie Bizperson later files for bankruptcy protection, what impact may the failure to file the financing statement have on how much Friendly Bank receives in payment from Bonnie Bizperson's bankruptcy estate? Give reasons for your answers.