Question: The BDF Co. receives five cheques per month, each month. The payments and clearing times are: $4,000, two days; $6,000 two days; $3,000, five days;

The BDF Co. receives five cheques per month, each month. The payments and clearing times are: $4,000, two days; $6,000 two days; $3,000, five days; $8,000, three days and $7,000, four days. Assume a 360-day year.

What are the average daily receipts?

		$76.71
		$686.67
		$920.55
		$933.33

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