Question: Madison Corner writes 2 0 checks a day for an average amount of $ 4 5 7 each. These checks generally clear the bank 2

Madison Corner writes 20 checks a day for an average amount of $457 each. These checks
generally clear the bank 2.25 days after they are written. In addition, the firm generally
receives 45 checks with an average amount of $502 each. Deposited amounts are available
after an average of 1.75 days. What is the amount of the firm's collection float?
$22,590
$9,140
$20,565
$18,968
$39,533
 Madison Corner writes 20 checks a day for an average amount

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