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Essential Company, which manufactures steel tubing and casing for automobile production, borrowed $516,000 on January 1 to finance the purchase of a new piece of

Essential Company, which manufactures steel tubing and casing for automobile production, borrowed $516,000 on January 1 to finance the purchase of a new piece of machinery with new heating technology. The terms of Essentials note dictate that it is a 8-month, 9%, interest-bearing

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