Question: MC Enterprises estimates that it takes, on average, 15 days for their customers' payments to reach them, 1 day for the payments to be processed

MC Enterprises estimates that it takes, on average, 15 days for their customers' payments to reach them, 1 day for the payments to be processed and deposited by their bookkeeping department, and 4 more days for the check to clear once they're deposited. What is their collection float?

20 days

19 days

15 days

16 days

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