Question: On an average day, a company writes 40 checks worth a total of $5,975 that clear in 3.5 days. The company also collects 62 checks

On an average day, a company writes 40 checks worth a

On an average day, a company writes 40 checks worth a total of $5,975 that clear in 3.5 days. The company also collects 62 checks worth a total of $8,040 that clear in 3 days. What is the company's average disbursement float? 46 Multiple Choice eBook $16,080 $24,120 $8,040 $5,975 $20,913

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 Finance Questions!

Nathan is married with two children and has AGI of $405,000. He also has the following AMT adjustments and preferences: Itemized deductions: medical after floor:$5,375 regular tax taxes: $34,354...

On an average day, a company writes 6 5 checks worth a total of $ 8 , 3 5 0 that clear in 3 . 7 5 days. The company also collects 7 7 checks worth aOn an average day, a company writes 6 5 checks...

On an average day, a company writes 6 8 checks worth a total of $ 8 , 4 2 5 that clear in 2 . 7 5 days. The company also collects 8 0 checks worth a total of $ 1 0 , 9 4 0 that clear in 2 . 2 5 days....

On an average day, a company writes 60 checks worth a total of $8,225 that clear in 2.5 days. The company also collects 72 checks worth a total of $10,540 that clear in 2 days. What is the company's...

On an average day, a company writes 50 checks worth a total of $7,975 that clear in 3.5 days. The company also collects 62 checks worth a total of $10,040 that clear in 3 days. What is the company's...

On an average day, a company writes 50 checks worth a total of $7,975 that clear in 3.5 days. The company also collects 62 checks worth a total of $10,04 that clear in 3 days. What is the company's...

On a typical day, a company writes 50 checks worth a total of $9.430 that clear in 3.5 days. The company also collects 62 checks worth a total of $10,000 that clear in 3 days. Is this a collection or...

Roger's Distributors receives an average of 82 checks a day with an average check amount of $16,329. If a lockbox system is implemented the average collection time should decrease by an average of...

On an average day, a company writes 4 7 checks worth a total of $ 6 , 1 5 0 that clear in 3 . 5 days. The company also collects 6 9 checks worth a total of $ 8 , 3 9 0 that clear in 3 days. What is...

On an average day, a company writes 57 checks worth a total of $8,150 that clear in 3.5 days. The company also collects 69 checks worth a total of $10,390 that clear in 3 days. What is the company's...

Define diaspora community. Then explain with an example how marketers target these communities.

Does the speed of a shunt motor increase or decrease when the armature Current increases?

P2.30 The measurement or sensor element in a feedback system is important to the accuracy of the system [6]. The dynamic response of the sensor is important. Many sensor elements possess a transfer...

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...