Powell has loaned Owen $500, which Owen agreed to repay on January 15, 2019.If Owen files a voluntary petition of bankruptcy on August 1, 2018, Powell has a claim as a creditor.

Name: Powell has loaned Owen $500, which Owen agreed to repay on January 15, 2019.If Owen files a voluntary petition of bankruptcy on August 1, 2018, Powell has a claim as a creditor.
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Question

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As Owen owes Powell money before filing for bankruptcy, Powell becomes a creditor with a claim against Owen's bankruptcy estate.

Powell Has Loaned Owen $500, Which Owen Agreed to Repay