Question: CJ Enterprises estimates that it takes, on average, three days for their customers' payments to reach them, one day for the payments to be processed

CJ Enterprises estimates that it takes, on average, three days for their customers' payments to reach them, one day for the payments to be processed and deposited by their bookkeeping department, and two more days for the check to clear once they're deposited. What is their collection float?

Multiple Choice

6

days

5

days

4

days

3

days

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