On any given day, a firm receives numerous checks worth an average combined total of $3,800. The funds from the deposited checks are generally…
On any given day, a firm receives numerous checks worth an average combined total of $3,800. The funds from the deposited checks are generally available after 2 days. Every day, the firm mails out checks totaling $2,900 that generally take 4 days to clear the bank. What is the amount of the collection float
