Question: Charlies's writes 135 checks a day for an average amount of $480 each. These checks generally clear the bank in 3 days. In addition, the
Charlies's writes 135 checks a day for an average amount of $480 each. These checks generally clear the bank in 3 days. In addition, the firm generally receives an average of $159,000 a day in checks that are deposited immediately. Deposited funds are available in 1.5 days. What is the firm's net float? Net disbursement float of $94,200 Net disbursement float of $44,100 Net disbursement float of $34,750 Net collection float of $44,100 Net collection float of $94,200
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
