Question
On an average day, Biggers Inc., deposits $250,000 of checks from customers, and writes and disburses checks worth $200,000. If deposited checks are available after
On an average day, Biggers Inc., deposits $250,000 of checks from customers, and writes and disburses checks worth $200,000. If deposited checks are available after three days, and written checks are cleared from our account after five days (the firm uses “snail mail”) what is the average net float (BE CLEAR ON SIGN)?
Step by Step Solution
3.51 Rating (154 Votes )
There are 3 Steps involved in it
Step: 1
Given Information Checks Disbursed Total Worth of Checks 200000 No of days for clearing 500 Di...
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
Fundamentals of biochemistry Life at the Molecular Level
Authors: Donald Voet, Judith G. Voet, Charlotte W. Pratt
4th edition
470547847, 978-0470547847
