
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Rosenthal Design has daily sales of $59,000.
The financial management team determined that
a lockbox would reduce the collection time by 1.6
days. Assuming the company can earn 5.2
percent interest per year, what are the savings
from the lockbox?
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