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    Mesa Bank Lock Box Services

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    The Mesa Bank is offering your company the use of their lockbox services. They estimate that you can reduce your average mail time by 2 days and they can save you a combined clearing and processing time of 1.5 days by putting the checks into the clearing system sooner. The firm receives 320 checks a day on average written for $2,500. The current T-Bill rate is 4% or .0107% per day. If Mesa will charge your firm an annual fee of $35,000 and .20 cents per check handled will you accept Mesa's services?

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    https://brainmass.com/business/auditing/mesa-bank-lock-box-services-243741

    Solution Preview

    The Mesa Bank is offering your company the use of their lockbox services. They estimate that you can reduce your average mail time by 2 days and they can save you a combined clearing and processing time of 1.5 days by putting the checks into the clearing system sooner. The firm receives 320 checks a day on average written for $2,500. The current T-Bill ...

    Solution Summary

    The expert evaluates a lock box arrangement with a bank.

    $2.19

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