Your Firm Generally Receives 5 Checks a Month

question 257

Multiple Choice

Your firm generally receives 5 checks a month. The check amounts and the collection delay for each check is shown below. Given this information what is the amount of the average daily float? Assume a 30 day month.

• A) $1,788.24
• B) $2,523.33
• C) $3,716.67
• D) $6,080.00
• E) $8,941.18

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