Each business day, on average, a company writes cheques totaling $11,750 to pay its suppliers. The usual total processing and clearing time for the cheques is 4 days. Meanwhile, the company receives payments from its customers each day, in the form of cheques, totaling an average of $13,500. The cash from the payments received is available to the firm after 3 days.

Calculate the company's disbursement float, collection float, and net float. (Negative amounts should be indicated by a minus sign. Do not use commas in your answers!)

Disbursement float =

Collection float =

Net float =

We tried,

• disbursement = 11,750 x 4 = 47,000
• collection float = 13,500 x 3 = 40,500
• net float = disbursement - collection float = 6500
• Although, we do not know if this is right. Could you please assist?