Question
In a typical month, the Gulley Corporation receives 100 checks totaling $117,000. These are delayed four days on average. Assume 30 days in a month.
In a typical month, the Gulley Corporation receives 100 checks totaling $117,000. These are delayed four days on average. Assume 30 days in a month. What is the average daily float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Average daily float $
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Financial Modeling
Authors: Simon Benninga, Tal Mofkadi
5th Edition
0262046423, 9780253337825
