Question: 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,

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 average amount of $562 each that are available after 2.5 days. Is this a collection or disbursement float? What is the amount of the float? Multiple Choice O A collection float of $9.554 A disbursement float of $10.455 A disbursement float of $8,660 Action fint of CRM
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