Homework Answers
Collection float is the amount of deposit that has not been
cleared.
Firm generally receives 60 checks with average amount of $520
each.
So firm's collection float = Number of deposited check * Average
amount
60*520
31200
So collection float is $31200. Answer D.
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Marston Corp. writes 47 checks a day for an average amount of $474 each. These checks generally clear the bank 25 days after they are written. In addition, the firm generally receives 59 checks with an average amount of $559 each. Deposited amounts are available after an average of 2 days. What is the firm's disbursement float Η Ο Ο S10,267 Ο SS5695 Ο 565 962 Ο Silver Eyes, Inc., has an average collection period of 2375 days and its...
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On a typical day, a company writes 66 checks worth a total of $8,850 that clear...
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On a typical day, a company writes 66 checks worth a total of
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worth a total of $10,840 that clear in 1.75 days. Is this a
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On a typical day, a company writes 66 checks worth a total of $8,850 that clear in 2.25 days. The company also collects 78 checks worth a total of $10,840 that...
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