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MC Enterprises Estimates That It Takes, on Average, Seven Days

question 25

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MC Enterprises estimates that it takes, on average, seven days for their customers' payments to reach them, two day for the payments to be processed and deposited by their bookkeeping department, and three more days for the checks to clear once they're deposited. What is their collection float?

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Definitions:

Sue

To initiate a legal proceeding against another party, typically seeking redress or compensation.

Learned

Having acquired knowledge or skill in a particular area through study or experience.

Experienced

Having knowledge or skill in a particular area or field as a result of direct involvement or participation over a period of time.

Trusted Authority

An entity or individual regarded as reliable and credible in a specific field or context.

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