Jumpdisk Company Writes Checks Averaging $15,000 a Day, and It

question 140

Multiple Choice

Jumpdisk Company writes checks averaging $15,000 a day, and it takes 5 days for these checks to clear. The firm also receives checks in the amount of $17,000 per day, but the firm loses three days while its receipts are being deposited and cleared. What is the firm's net float in dollars?

• A) $126,000
• B) $ 75,000
• C) $ 32,000
• D) $ 24,000
• E) $ 16,000

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