Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question below. All info needed should be in the picture. If not just ask me. Thanks in advance. Each business day, on average, a company
Question below. All info needed should be in the picture. If not just ask me. Thanks in advance.
Each business day, on average, a company writes checks totaling $33,000 to pay its suppliers. The usual clearing time tor the checks is three days. Meanwhile, the company is receiving payments trom its customers each day, in the torm ot checks, totaling $44,000. The cash trom the payments is available to the firm atter two days. a. Calculate the company's disbursement float, collection float, and net float. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Disbursement float Collection float Net float b. Calculate the company's disbursement float, collection float, and net float, It the collected funds were available in one day instead ot two. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Disbursement float Collection float Net 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