Question: Ellcrys Corp. writes 67 checks a day for an average amount of $521 each. These checks generally clear the bank 2.75 days after they are

Ellcrys Corp. writes 67 checks a day for an average amount of $521 each. These checks generally clear the bank 2.75 days after they are written. In addition, the firm generally receives 64 checks with an average amount of $598 each. Deposited amounts are available after an average of 2.25 days. Is this a disbursement or collection float? What is the value of the float?

a. A collection float of $9,882

b. A disbursement float of $9,882

c. A collection float of $11,677

d. A disbursement float of $7,735

e. A disbursement float of $11,677

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