essex manufacturing company serious financialhttpswwwstudypoolcomaccounting homework help di

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essex manufacturing company serious financialhttpswwwstudypoolcomaccounting homework help di

Essex, a manufacturing company is in serious financial difficulty and is unable to meet current unsecured obligation of $1,340,000.00 to some 20 creditors, who are demanding immediate payment. In that creditor list, Essex owes Steven Machine Corporation $15000.00 on a secured financing agreement for a CAD machine that was purchased last year.

 

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