You have $13,800 on deposit with no outstanding checks or uncleared deposits. Assume you deposit a check
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You have $13,800 on deposit with no outstanding checks or uncleared deposits. Assume you deposit a check for $5,400. |
a. | Does this create a disbursement float or a collection float? |
b. | What is your available balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) |
c. | What is your book balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) |
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Related Book For
Essentials of Corporate Finance
ISBN: 978-1259277214
9th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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