Question: When the secured party has sold the repossessed collateral, the proceeds of the sale are distributed in which order? (1) the expenses of the repossession

When the secured party has sold the repossessed collateral, the proceeds of the sale are distributed in which order? (1) the expenses of the repossession and sale, (2) the creditor with the highest priority, (3) other creditors according to the priority rules, (4) the balance to the debtor. (1) the debtor for his value in the collateral, (2) the expenses of the repossession and sale, (3) the creditor with the highest priority, (4) other creditors according to priority rules. (1) the creditor who repossessed the collateral even if this creditor does not have the highest priority, (2) other creditors according to priority rules, (3) the expenses of the repossession and sale, (4) the balance to the debtor. (1) the creditor who has the highest priority, (2) the expenses of the repossession and sale, (3) other creditors according to priority rules, (4) the balance to the debtor

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