Assume that each day a company writes and receives checks totaling $10,000. If it takes 5 days

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Assume that each day a company writes and receives checks totaling $10,000. If it takes 5 days for the checks to clear and be deducted from the company?s account, and only 4 days for the deposits to clear, what is the float?

$10,000
$0
$(10,000)
$50,000

Related Book For answer-question

Introduction to Corporate Finance What Companies Do

ISBN: 978-1111222284

3rd edition

Authors: John Graham, Scott Smart

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Posted Date: Feb 03, 2023 04:32 AM

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Assume that each day a company writes and receives checks totaling $10,000. If it takes 5 days

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Introduction to Corporate Finance What Companies Do

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