Question: Please explain the solution to this general accounting problem with accurate principles. Larkspur Inc. has daily sales averaging $95,000. The company is considering using a

Please explain the solution to this general accounting problem with accurate principles.

Please explain the solution to this general
Larkspur Inc. has daily sales averaging $95,000. The company is considering using a lockbox service that would reduce the average collection time by 1.8 days. If the firm earns 6.2% annual interest, what would be the potential annual savings from using the lockbox

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