On an average day a company writes checks totaling 1500, Financial Management

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On an average day a company writes checks totaling 1500

On an average day, a company writes checks totaling $1,500. These checks take 7 days to clear. The company receives checks totaling $1,800. These checks take 4 days to clear. The cost of debt is 9%. What is the firm's collection float? A. $-7,200 B. $-1,800 C. $1,800 D. $10,500 E. None of these.

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Financial Management: On an average day a company writes checks totaling 1500

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