Gateway Sold a Big-Screen TV and Entertainment Center to Inez

Essay

Gateway sold a big-screen TV and entertainment center to Inez for $2400 on credit.Inez signed a promissory note and gave Gateway a security interest in the TV and entertainment center.Gateway filed a financing statement in the appropriate public office.When Inez defaulted on her monthly payments owing a balance of $2080,Gateway's attorney made arrangements to have the TV and entertainment center repossessed.The attorney then placed classified ads in the local newspaper to sell the goods.The attorney's fees are $400,the repo company charged $150,and the advertising costs are $50.If Inez does not redeem,and the TV and entertainment center are sold for $1850,how will the money be disbursed?