Aqua System Inc. expects to have $28,528,381 in credit sales during the coming year. Currently all checks are sent to the home office. A proposed lockbox lockbox system can eliminate 1 days of float, releasing funds which, when invested, will earn 6.29% per year.
Aqua System Inc. expects to have $28,528,381 in credit sales during
the coming year. Currently all checks are sent to the home office. A proposed lockbox lockbox system can eliminate 1 days of float, releasing funds which, when invested, will earn 6.29% per year. What annual savings can Aqua System expect if the system is implemented? Use 365-day year.
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