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A firm writes a check each day in the amount of $700. The checks take three days to clear and the company keeps $700 in
A firm writes a check each day in the amount of $700. The checks take three days to clear and the company keeps $700 in the account according to the bank. How much float do they have?
Gross float = $2,100. | ||
Net float = $700. | ||
Net float = $0. | ||
Gross float = $1,400. |
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