In a typical month, the Saint John Corporation receives 80 cheques totalling $124,000. These are delayed four

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In a typical month, the Saint John Corporation receives 80 cheques totalling $124,000. These are delayed four days on average. What is the average daily float? Assume 30 days in a month.

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Fundamentals Of Corporate Finance

ISBN: 9781259654756

10th Canadian Edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan, Gordon Roberts, J. Ari Pandes, Thomas Holloway

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Question Posted: Nov 21, 2022 03:34 AM

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In a typical month, the Saint John Corporation receives 80 cheques totalling $124,000. These are delayed four

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The average daily float is the amount of receipt...View the full answer

Fundamentals Of Corporate Finance

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