Question: Problem 1 4 - 6 Collection Float ( LG 1 4 - 9 ) CM Enterprises estimates that it takes, on average, one day for

Problem

14 - 6

Collection Float

(

14 - 9)

CM Enterprises estimates that it takes, on average, one day for customers' payments to arrive, one day for the payments to be processed and deposited by the bookkeeping department, and one more day for the checks to clear once they are deposited.

What is CM

'

s collection float?

Problem 1 4 - 6 Collection Float ( LG 1 4 - 9 )

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