Hoyes Lumber Generally Receives Three Checks a Month in the Amounts

question 68

Multiple Choice

Hoyes Lumber generally receives three checks a month in the amounts of $654, $987, and $1,310. The $987 check has a two-day collection delay while the others have a one-day delay. Given this information, what is the amount of the average daily float? Assume each month has 30 days.

• A) $131
• B) $143
• C) $147
• D) $128
• E) $122

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Major failures of ethics and governance within corporations, often leading to legal penalties or public outrage.

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