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

question 9

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 Jumpdisk's net float?

• A)$126,000
• B)$75,000
• C)$4,000
• D)$24,000
• E)$51,000

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