In a typical month, the Tanner Corporation receives 100 checks totaling $78,000. These are delayed three days

Question:

In a typical month, the Tanner Corporation receives 100 checks totaling $78,000. These are delayed three days on average. What is the average daily float? Assume 30 days in a month.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...