Wintoki Company Writes Cheques Averaging $15,000 a Day,and It Takes

question 6

Multiple Choice

Wintoki Company writes cheques averaging $15,000 a day,and it takes 5 days for these cheques to clear.The firm also receives cheques in the amount of $17,000 per day,and it takes 3 days for these cheques to be deposited and cleared.What is the firm's net float,in dollars?

• A)$20,577
• B)$21,660
• C)$22,800
• D)$24,000