Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In a typical month, the Monk Corporation receives 80 checks totaling $145,000. These are delayed four days on average. What is the average daily float?
In a typical month, the Monk Corporation receives 80 checks totaling $145,000. These are delayed four days on average. What is the average daily float? Assume 30 days in a month. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) Average daily float
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started