In a typical month, the Monk Corporation receives 90 checks totaling $132,000. These are delayed three...
In a typical month, the Monk Corporation receives 90 checks totaling $132,000. These are delayed three days on average. What is the average daily float? Assume 30 days in a month. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Homework Answers
Average daily float = (Average amount of checks received per day * Average number of days delay) / Number of days in a month
Average daily float = ($132,000 * 3) / 30
Average daily float = $13,200
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In a typical month, the Monk Corporation receives 90 checks
totaling $132,000. These are delayed three...
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e.
How much should the firm be willing to pay to reduce the
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