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Problem Solution Lawrence Sports

Problem Solution- Lawrence Sports

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Title: Problem Solution- Lawrence Sports

Essay Details:

Subject: Business

Author: Ivan S

Date: July 3, 2016

Level: University

Grade: A

Length: 11 / 3186

Essay text:

Mayo encountered internal accounting issues that have led to their inability to pay Lawrence in the agreed manner. This unexpected slow in incoming cash flow has been complicated even further by an unexpected damaged shipment of goods. This damaged shipment resulted in Lawrence terminating their contract with the transporting company; this came with a cost of $250,000. Despite the extra expense, Lawrence will still have to find a way to cover expenses to their two vendors: Murray and Gartner. They have reached the maximum of their borrowing from the bank in the amount of $1.2 million. Cash will have to be rerouted from other assets to cover expenses and the debt from Mayo will have to be satisfied...

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