Question: Question 1 (2 points) Elliot Electronics has established local collection centers around the country in order to speed up collection from customers by an average

Question 1 (2 points) Elliot Electronics has established local collection centers around the country in order to speed up collection from customers by an average of three days. Furthermore, they believe they can delay payments to suppliers by one day without affecting supplier relations. If Elliot has $3 million per day in collections from customers and $2.5 million per day in payments to suppliers, how many dollars will the new cash management system free up? O $0.5 million $5.5 million O $6.5 million O $11.5 million

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