Madison Corner Writes 20 Checks a Day for an Average

question 92

Multiple Choice

Madison Corner writes 20 checks a day for an average amount of $630 each.These checks generally clear the bank 2.5 days after they are written.In addition,the firm generally receives an average of $18,400 a day in checks.Deposited amounts are available after 2 days.What is the amount of the firm's disbursement float?

• A)$12,600
• B)$25,800
• C)$28,350
• D)$29,840
• E)$31,500

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