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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. These checks clear the bank in 1.5 days. Calculate the companys disbursement float, collection float, and net float. (5 points)
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