Thornbury Trucking has been focused on improving cash management by speeding up cash collections and slowing down
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Question:
Thornbury Trucking has been focused on improving cash management by speeding up cash collections and slowing down cash disbursements. Over the last year, collection time has been reduced by two days and a half days and disbursement time has been increased by one and a half days because of new policies. Thornbury has $4.60 million per day in collections and $3.60 million per day in disbursements. Calculate how many dollars the cash management system has freed up?
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