Question: Your average customer is located 4.3 mailing days away from your firm. You have determined that, on average, it is taking your staff 1.5 days

Your average customer is located 4.3 mailing days away from your firm. You have determined that, on average, it is taking your staff 1.5 days to process payments received from customers. In addition, it takes an average of 2.8 days for your funds to be available for use once you have made your bank deposit. What is your firm's collection time?

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