Question: Madison Corner writes 2 5 checks a day for an average amount of $ 4 7 7 each. These checks generally clear the bank 3

Madison Corner writes 25 checks a day for an average amount of $477 each. These checks generally clear the bank 3.5 days after they are written. In addition, the firm generally receives 62 checks with an average amount of $532 each. Deposited amounts are available after an average of 3 days. What is the amount of the firm's collection float?
Multiple Choice
$11,925
$32,984
$41,738
$57,215
$98,952

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