At the beginning of the day, a company had a ledger balance and available balance of $3,860. During the day, the company wrote three checks for $260, $625, and $885. The company also deposited checks for $365 and $840. What is the company's collection float?

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Answer rating: 100% (QA)

To calculate the companys collection float we need to determine the time it takes for the deposited ... View the full answer