Knight Roundtable Co. has annual credit sales of $2,160,000 and an average accounts receivable are $67,500. Days in receivables are 32. True False Question 5(0.4 points) Saved City Farm Insurance has collection centers across the country to speed up collections. The company also makes its disbursements from remote disbursement centers. The collection time has been reduced by two days and disbursement time increased by one day because of these policies. Excess funds are being invested in short-term instruments yielding 6 percent per annum. If, City has $5,000,000 per day in collections and $3,000,000 per day in disbursements, the interest on freed-up cash is $1,560,000 True False