Question
Suppose a hospital writes checks of $400,000 per day and it takes, on average, seven days for those to be received and to clear the
Suppose a hospital writes checks of $400,000 per day and it takes, on average, seven days for those to be received and to clear the banking system. Furthermore, the hospital receives 480,000 in checks daily, which take four days to be deposited and credited. What is the hospital's float?
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Managerial Accounting An Introduction To Concepts Methods And Uses
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil, Sidney Davidson
7th Edition
0030259630, 978-0030259630
