Question
Bulldogs Inc. has a positive net float of P6,000. The mail time and clearing time for all the checks received and disbursed by the firm
Bulldogs Inc. has a positive net float of P6,000. The mail time and clearing time for all the checks received and disbursed by the firm is 3 days and 24 hours, respectively. The processing delay for collection and payment is 2 days and 1 day, respectively. If Bulldogs Inc. has an average daily disbursement float of P18,000, how much is the average daily collection?
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
