Your Firm Generally Receives 4 Checks a Month

question 68

Multiple Choice

Your firm generally receives 4 checks a month. The check amounts and the collection delay for each check is shown below. Given this information what is the amount of the average daily float? Assume a 30 day month.

• A)$1,070
• B)$2,333
• C)$2,640
• D)$2,900
• E)$3,416

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Definitions:

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