Multiple Choice
Spice it Up! writes 57 checks a day with an average amount of $289 each.These checks generally clear the bank in 2.7 days.In addition, the firm generally receives an average of $20,900 a day in checks that are deposited immediately.Deposited funds are available in an average of .5 days.What is the firm's net float?
A) Net disbursement float of $36,318
B) Net disbursement float of $34,027.10
C) Net disbursement float of $34,750.30
D) Net collection float of $36,318
E) Net collection float of $34,027.10
Correct Answer:
Verified
Correct Answer:
Verified
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