Determining the amount of the collection float, Finance Basics

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Determining the amount of the collection float

On any given day a firm receives numerous checks with an average combined total of $3,800. The funds from the deposited checks are generally available after 2 days. Every day, the firm mails out checks totaling $2,900 that generally take 4 days to clear the bank. What is the amount of the collection float?

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Finance Basics: Determining the amount of the collection float

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Finance Basics: Determining the amount of the collection float

Reference No:- TGS053713

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : Explain whether wal-world has a dominant strategy

Q : Capital structure and comparative financial statement

Q : Dividend payout ratio-axel telecommunications

Q : Derive values of wages to ensure that skilled want to work

Q : Determining the amount of the collection float

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Q : What will white record as it''s income tax expense

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Q : What are implicit costs to cover the start-up costs

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Request for Solution File

Ask an Expert for Answer!!

Finance Basics: Determining the amount of the collection float

Reference No:- TGS053713

Recent Questions Asked Finance Basics

Q : Explain whether wal-world has a dominant strategy

Q : Capital structure and comparative financial statement

Q : Dividend payout ratio-axel telecommunications

Q : Derive values of wages to ensure that skilled want to work

Q : Determining the amount of the collection float

Q : Perspective of the computer desk division

Q : What will white record as it''s income tax expense

Q : Determining the amount of firm accounts receivable

Q : What are implicit costs to cover the start-up costs

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