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Your firm writes $25,000 in checks each day which are mailed, cashed, and clear the banks in an average of 5 days. Your firm collects
Your firm writes $25,000 in checks each day which are mailed, cashed, and clear the banks in an average of 5 days. Your firm collects $50,000 in checks each day which are cashed and clear the bank in an average of 2 days. What is the collection float?
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