ABC Corporation has daily cash collections of P50,000 and daily cash disbursements of P60,000. A customer...
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ABC Corporation has daily cash collections of P50,000 and daily cash disbursements of P60,000. A customer check is credited on the bank statement an average of 5 days from the issue date. Company checks remain outstanding an average of 3 days from the issue date. Required: 1. Collection float 2. Disbursement float 3. Net Float (Place answer in parenthesis if unfavorable.) ABC Corporation has daily cash collections of P50,000 and daily cash disbursements of P60,000. A customer check is credited on the bank statement an average of 5 days from the issue date. Company checks remain outstanding an average of 3 days from the issue date. Required: 1. Collection float 2. Disbursement float 3. Net Float (Place answer in parenthesis if unfavorable.)
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AnsA1 Collection Float refers to the time lapse betwee... View the full answer
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