YY Corporation has daily collections of P180,000 from a selected foreign customer group. The bank...
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Accounting
YY Corporation has daily collections of P180,000 from a selected foreign customer group. The bank offered to accelerate the clearing time of these collections from 8 days to 5 days for a quarterly fee of P1,000. YY can invested freed cash into a mutual fund to earns 5% annually. How much is the net benefit/(cost) of this bank service?
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