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Lindsay Corporation made the following payments to the family of Luke Marshall,an employee who died during the year. $5,000 for Luke's final paycheck that he failed to collect
$10,000 for accrued vacation days as required by the employment contract
$25,000 in admiration of Luke's outstanding service to the community
What is the total amount that Luke's family must include in income?
Miller-Orr Model
A financial model used for managing cash balances by setting upper and lower limits on cash reserves.
Upper Cash Limit
The maximum cash balance a company sets to hold on hand, beyond which excess funds are usually invested in short-term securities.
Lockbox Services
Banking services that process payments for companies by collecting and depositing checks into their accounts.
NPV
Net Present Value is a financial measure that computes the variance between the present value of cash inflows and outflows within a specific timeframe.
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