Question: Tenafly, Inc., writes 29 checks a day for an average amount of $493 each that generally clear 2.75 days after they are written. In addition,

Tenafly, Inc., writes 29 checks a day for an average amount

Tenafly, Inc., writes 29 checks a day for an average amount of $493 each that generally clear 2.75 days after they are written. In addition, the firm generally receives 37 checks each day with an average amount of $556 each that are available after 2.25 days. Is this a collection or disbursement float? What is the amount of the float? Multiple Choice A collection float of $7,864 A disbursement float of $6,970 A collection float of $6,970 A disbursement float of $8,765 A collection float of $8,765

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Shannara Manufacturing writes 29 checks a day for an average amount of $493 each that generally clear 2.75 days after they are written. In addition, the firm generally receives 37 checks each day...

Lemon, Inc. is an unlevered firm which has a cost of capital of 14% and EBIT of $150,000 per year in perpetuity. A levered firm with the same operations, assets and business risk has both a book...

Tenafly, Inc., writes 33 checks a day for an average amount of $509 each that generally clear 3.75 days after they are written. In addition, the firm generally receives 41 checks each day with an...

Google has 11,800 shares of common stock outstanding at a price of $52 per share. It also has 295 shares of preferred stock outstanding at a price of $94 per share. There are 340 bonds outstanding...

Tenafly, Inc., writes 40 checks a day for an average amount of $537 each that generally clear 3.75 days after they are written. In addition, the firm generally receives 48 checks each day with an...

Tenafly, Inc., writes 30 checks a day for an average amount of $497 each that generally clear 3 days after they are written. In addition, the firm generally receives 38 checks each day with an...

24 Tenafly, Inc., writes 25 checks a day for an average amount of $477 each that generally clear 3.5 days after they are written. In addition, the firm generally receives 33 checks each day with an...

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...

Shannara Manufacturing writes 2 2 checks a day for an average amount of $ 4 6 5 each that generally clear 2 . 7 5 days after they are written. In addition, the firm generally receives 3 0 checks each...

Virtucon writes 43 checks a day for an average amount of $549 each that generally clear 2.75 days after they are written. In addition, the firm generally receives 51 checks each day with an average...

5. Let A e M, be nonnegative and irreducible. Show that A is primitive if at least one main diagonal entry is positive. Show that this sufficient condition is necessary for n = 2 but not for n 3.

1. An isolated magnetic particle of magnetization M and uniaxial anisotropy K is inclined at an angle of 22.5 degrees relative to an applied magnetic field H. Write the energy as a function of the...

Communication software can include audio conferencing, video conferencing, and text messaging. Communication software can include audio conferencing, video conferencing, and text messaging. False True

A declaration of support or recommendation for a specific policy or cause to further social justice in sport is known as . . . Group of answer choices . . . social change. . . . athlete activism. . ....

Calculate the yield rate for each recruitment source (based on the number of job offer acceptances to the number of job offers): (a) employee referrals, (b) job fairs, and (c) job Web sites. Which...

What steps in the selection process were missed, if any? What problems might occur because of these omissions?

Assuming the interviewers role, what are three questions that you would ask job candidates? Explain. Assuming the interviewers role again, what are two questions that you would not ask job...