Question: Tenafly, Inc., writes 21 checks a day for an average amount of $461 each that generally clear 2.5 days after they are written. In addition,

Tenafly, Inc., writes 21 checks a day for an average amount of $461 each that generally clear 2.5 days after they are written. In addition, the firm generally receives 29 checks each day with an average amount of $508 each that are available after 2 days. Is this a collection or disbursement float? What is the amount of the float?

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