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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- ACE Design has daily sales of $52,000. The financial management team has determined that a lockbox would reduce the collection time by 2.9 days. Assuming the company can earn 6.8 percent interest per year, what are the savings from the lockbox? (Round answer to 2 decimal places, e.g. 12.25.) Savings from the lockbox $__________ per yearWhat are the potential savings from the lockbox?Osborne Supply Company has credit sales of $2M per year. Collections average $8000 per day. Assume there are 250 working days per year. Osborne plans to reduce internal processing time by 1 day. What would its annual savings be, assuming a 14% cost of funds? Solution
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