Question: Madison Corner writes 23 checks a day for an average amount of $469 each. Madison Corner writes 23 checks a day for an average amount

Madison Corner writes 23 checks a day for an average amount of $469 each.

Madison Corner writes 23 checks a day for an average amount of $469 each. These checks generally clear the bank 3 days after they are written. In addition, the firm generally receives 60 checks with an average amount of $520 each. Deposited amounts are available after an average of 2.5 days. What is the amount of the firm's collection float? Multiple Choice 570000 532.361

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