PBJ Enterprises Estimates That It Takes, on Average, Three Days

question 54

Multiple Choice

PBJ Enterprises estimates that it takes, on average, three days for their customers' payments to reach them, three days for the payments to be processed and deposited by their bookkeeping department, and three more days for the checks to clear once they're deposited. What is their collection float?

• A) 5 days
• B) 6 days
• C) 9 days
• D) 18 days