Hoyes Lumber Generally Receives 3 Checks a Month

question 23

Multiple Choice

Hoyes Lumber generally receives 3 checks a month.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? Assume each month has 30 days.

• A)$1,386.67
• B)$1,407.19
• C)$4,750.00
• D)$6,833.33
• E)$6,933.33

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