CM Enterprises Estimates That It Takes, on Average, 7 Days

question 82

Multiple Choice

CM Enterprises estimates that it takes, on average, 7 days for their customers' payments to reach them, 1 day for the payments to be processed and deposited by their bookkeeping department, and 3 more days for the check to clear once they're deposited. What is their collection float?

• A) 11 days
• B) 10 days
• C) 8 days
• D) 7 days

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