Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On any given day, Dalsy's recelves and deposits numerous checks worth an average combined total of $3,428. The funds from these checks are generally available

image text in transcribed
On any given day, Dalsy's recelves and deposits numerous checks worth an average combined total of $3,428. The funds from these checks are generally available in 16 days. Every day the firm malls out checks totaling $2,850 that generally take 1.9 days to clear the bank. What is the amount of the disbursement float if the opening bank balance was $945 with no outstanding items? Mytiple Choice $5,505 $5.700 $4.560 $5,388 $5.415

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Analysis With Microsoft Excel 2016

Authors: Timothy R. Mayes, Todd M. Shank

8th Edition

1337298042, 9781337298049

More Books

Students also viewed these Finance questions