Business, 22.04.2020 00:13 kevinvalencia01
No More Books Corporation has an agreement with Floyd Bank whereby the bank handles $7.0 million in collections a day and requires a $450,000 compensating balance. No More Books is contemplating canceling the agreement and dividing its eastern region so that two other banks will handle its business. Banks A and B will each handle $3.5 million of collections a day, and each requires a compensating balance of $300,000. No More Books’ financial management expects that collections will be accelerated by one day if the eastern region is divided.
Answers: 1
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No More Books Corporation has an agreement with Floyd Bank whereby the bank handles $7.0 million in...
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