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What inventions led to the mechanization of the cotton industry after 1750? Why was the textile industry so prominent at this time?
Accounts Payable
Short-term obligations or debts a company owes to its suppliers or creditors.
Note Payable
A written promise to pay a specific amount of money, often bearing interest, at a future date or on demand.
Liquidated
The process of closing a business by selling off assets to pay creditors and distributing any remaining assets to the owners or shareholders.
Involuntary Bankruptcy
A legal process initiated by creditors seeking to collect debts from a company or individual that cannot pay its obligations.
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