Question: Smelpank, Inc., estimates that it takes, on average, five days for customers payments to arrive, three days for the payments to be processed and deposited

Smelpank, Inc., estimates that it takes, on average, five days for customers payments to arrive, three days for the payments to be processed and deposited by the bookkeeping department, and three more days for the checks to clear once they are deposited.

What is the firms collection float?

Collection float

days

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