The Gibson Co

question 265

Multiple Choice

The Gibson Co. generally receives 4 checks a month. A month is defined as a 30 day period. The check amounts and the collection delay for each check are shown below. Given this information,
What is the amount of the average daily float?

• A) $1,682.35
• B) $2,723.33
• C) $3,800.00
• D) $4,805.88
• E) $5,720.00