On September 1, 2012, Joe’s Lawn Care (Joe's) took out a $5,000 loan from Putnam County Bank (PCB), which took and properly perfected a security interest in all of Joe’s inventory including after-acquired. On October 1, Joe’s filed for Chapter 11 Bankruptcy. In its reorganization, Joe's acquired 100 new lawnmowers, which it began selling for cash and on installment contracts. Which of the following statements is true?
1. PCB has a perfected security interest in the inventory acquired after Joe’s filed its bankruptcy petition
2. PCB has a security interest in the installment contracts of sales of inventory that Joe's owned prior to bankruptcy, even if those sales occurred after the petition date.
3. PCB lost its security interest in any of Joe’s assets at the moment Joe’s filed for bankruptcy.
4. After Joe’s re-organization, PCB holds a security interest in all of Joe’s inventory, whether acquired before or after the bankruptcy petition.