Charlie's Bar Writes 3 Checks a Day for an Average

question 102

Multiple Choice

Charlie's Bar writes 3 checks a day for an average amount of $5,400 each. These checks generally clear the bank 4 days after they are written. In addition, the firm generally receives and deposits checks amounting to $18,700 each day. All deposits are available on the next day. What is the firm's net float?

• A) Net collection float of $13,200
• B) Net collection float of $18,700
• C) Net collection float of $22,300
• D) Net disbursement float of $46,100
• E) Net disbursement float of $64,800

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Definitions:

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