Your average customer is located 2.9 mailing days away from your office. On average, it takes your staff 1.1 days to process incoming payments and an average of .65 days for your funds to be available for use once you have made your bank deposit. What is your total collection time if 98 percent of your customers pay by mail while the others drop their payment off at your office? 

Answer rating: 100% (QA)

To calculate the total collection time we first need to consider the two different ways the payments ... View the full answer