Q:Question:Jackson's Thriftway currently processes all of its credit sales at its Seguin, Texas, headquarters. The firm is considering establishing a lockbox arrangement with a Chicago bank to process payments from customers in 12 midwestern states. Average mailing time for customers from this region is currently 6 days. It is expected that the system will reduce this to \( 2.5 \) days. Check processing and clearing time would be reduced from \( 3A:Answer:See a step by step answer