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The BDF Co. receives five cheques per month, each month. The payments and clearing times are: $4,000, two days; $6,000 two days; $3,000, five days;
The BDF Co. receives five cheques per month, each month. The payments and clearing times are: $4,000, two days; $6,000 two days; $3,000, five days; $8,000, three days and $7,000, four days. Assume a 360-day year.
What are the average daily receipts?
| $76.71 | ||
| $686.67 | ||
| $920.55 | ||
| $933.33 |
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