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Tanner Tavern writes four checks a day for an average amount of $5,400 each. These checks generally clear the bank four days after they are
Tanner Tavern writes four checks a day for an average amount of $5,400 each. These checks generally clear the bank four days after they are written. In addition, the firm generally receives and deposits checks amounting to $18,700 each day. All deposits are available on the next day. What is the firm's net float?
a) Net disbursement float of $67,700
b) Net disbursement float of $86,400
c) Net collection float of $13,200
d) Net collection float of $22,300
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