Question
Novak Foods has an initial cash balance of $11,500. The company received and recorded $5,700 from customers, depositing the same in the bank. Novak also
Novak Foods has an initial cash balance of $11,500. The company received and recorded $5,700 from customers, depositing the same in the bank. Novak also issued $16,100 in cheques to suppliers of which $8,700 had cleared the bank. Calculate the companys float.
| Float | $ |
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Personal Finance
Authors: Jack Kapoor
6th Edition
0072350849, 9780072350845
