Question
In a typical month, the Gulley Corporation receives 100 checks totaling $108,000. These are delayed five days on average. Assume 30 days in a month.
In a typical month, the Gulley Corporation receives 100 checks totaling $108,000. These are delayed five 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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Intermediate Financial Theory
Authors: Jean-Pierre Danthine, John B. Donaldson
2nd Edition
0123693802, 978-0123693808
