Question: Problem 1 4 - 1 1 Collection Float ( LG 1 4 - 9 ) CM Enterprises estimates that it takes, on average, four days

Problem

14 - 11

Collection Float

(

14 - 9)

CM Enterprises estimates that it takes, on average, four days for customers

payments to arrive, one day for the payments to be processed and deposited by the bookkeeping department, and two more days for the checks to clear once they are deposited.

What is CM

s collection float?

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