Solve the following problems and write your answers with solutions on the extra sheets provided at the end part of the module. Problem 1 DELAY IN CASH RECEIPT. Blake Corporation receives average daily cash receipts of $140,000. The finance manager has determined that the time period between the mailing of a check and its actual availability for corporate use is 4 days. What is the amount of cash being tied up because of the delay? Problem 2 FLOAT MEASUREMENT. On a typical day, ABC Company writes checks totaling $3,000. These checks clear in 7 days. Simultaneously, the company receives $1,700. The cash is available in 2 days on average. Calculate the disbursement, the collection, and the net floats and interpret the result