Question: Please explain the solution to this general accounting problem using the correct accounting principles. Davis Industries has daily sales of $120,000. The finance team estimates

Please explain the solution to this general accounting problem using the correct accounting principles.

Davis Industries has daily sales of $120,000. The finance team estimates that implementing alockbox system will reduce the collection time by 2.5 days. If the firm can earn 6% annual interest, what are the potential interest savings from using the lockbox

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