You are a creditor owed $10,000 by a bankrupt debtor. The debtors total assets are $50,000. A

Question:

You are a creditor owed $10,000 by a bankrupt debtor. The debtor’s total assets are $50,000. A secured creditor is owed $20,000 and the other general creditors are owed $90,000. Assuming there are no other creditors, what will you receive when the trustee distributes the proceeds of the debtor’s assets?

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