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best just reconciled its bank account and has $10800 in outstanding deposits, $26300 in checks outstanding, and a positive checkbook balance. the firm sells on
best just reconciled its bank account and has $10800 in outstanding deposits, $26300 in checks outstanding, and a positive checkbook balance. the firm sells on a cash-only basis and deposits its receipts at the bank daily. the deposited funds are available to the firm the following day. the firm writes and mails checks on a daily basis also. these checks generally clear the bank in three days. what do you know about the firms float given this information
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