On an average day, Biggers Inc., deposits $250,000 of checks from customers, and writes and disburses checks worth $200,000. If deposited checks are available after three days, and written checks are cleared from our account after five days (the firm uses “snail mail”) what is the average net float (BE CLEAR ON SIGN)?

Answer rating: 100% (QA)

Given Information Checks Disbursed Total Worth of Checks 200000 No of days for clearing 500 Di... View the full answer