Question: Madison Corner writes 35 checks a day for an average amount of $517 each. These checks generally clear the bank 2.5 days after they are

 Madison Corner writes 35 checks a day for an average amount

Madison Corner writes 35 checks a day for an average amount of $517 each. These checks generally clear the bank 2.5 days after they are wiitten. In addition, the fim generally receives 72 checks with an average amount of $592 each. Deposited amounts are available after an average of 2 days. What is the amount of the firm's collection float? Choice 585.248 518 095 ,230

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!