The Franzini Food Company has a weekly payroll of $150,000 paid on Friday. On average, its employees

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The Franzini Food Company has a weekly payroll of $150,000 paid on Friday. On average, its employees cash their checks in the following manner:

As treasurer of the company, how would you arrange your payroll account? Are there any problems?

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Fundamentals Of Financial Management

ISBN: 9780273713630

13th Revised Edition

Authors: James Van Horne, John Wachowicz

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Question Posted: Dec 07, 2015 05:42 AM

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The Franzini Food Company has a weekly payroll of $150,000 paid on Friday. On average, its employees

Question:

DAY CHECK CLEARED ON COMPANY'S ACCOUNT Friday Monday Tuesday Wednesday Thursday PERCENTAGE OF CHECKS CASHELD 20 40 25 10

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If the company were certain of the pattern shown it would wish to have the following deposits i...View the full answer

Fundamentals Of Financial Management

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