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Each business day, on average, a company writes checks totaling $41,627 to pay its suppliers. The usual clearing time for these checks is 3.2 days.
Each business day, on average, a company writes checks totaling $41,627 to pay its suppliers. The usual clearing time for these checks is 3.2 days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $59,948. The cash from the payments is available after 1.5 days. What is the amount of the average net float
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