Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On an average day, a company writes 60 checks worth a total of $8,225 that clear in 2.5 days. The company also collects 72 checks
On an average day, a company writes 60 checks worth a total of $8,225 that clear in 2.5 days. The company also collects 72 checks worth a total of $10,540 that clear in 2 days. What is the company's average collection float?
On an average day, a company writes 60 checks worth a total of $8,225 that clear in 2.5 days. The company also collects 72 checks worth a total of $10,540 that clear in 2 days. What is the company's average collection float? Multiple Choice a $21,080 O $8,225 $10.540 O O $20,563 $18,765Step 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