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. ABC Corp is struggling financially. Prior to any debt renegotiations, they have assets valued at about $13 million and
Posted: Sat Feb 19, 2022 2:34 pm
by answerhappygod
- Abc Corp Is Struggling Financially Prior To Any Debt Renegotiations They Have Assets Valued At About 13 Million And 1 (69.29 KiB) Viewed 23 times
. ABC Corp is struggling financially. Prior to any debt renegotiations, they have assets valued at about $13 million and liabilities in the amount of $15 million. As a result of their financial struggles, they negotiate with one of their vendors to reduce an outstanding liability. ABC Corp is able to secure a $1 million reduction on an outstanding debt. Is there gross income? . What if the debt reduction is $3 million?