According to your chequebook, you have a $3,000 balance in your account. You write cheques totaling $4,500 and make a deposit of $3,500. What is your collection float?
A) -$1,500
B) -$3,500
C) -$3,000
D) -$4,500
E) -$8,000
Correct Answer:
Verified
Q117: On an average day, your firm receives
Q118: The Stetson Co. receives an average of
Q119: Your firm deals strictly with three customers.
Q120: Your firm spends $150,000 a week to
Q121: Your firm generally receives 5 checks a
Q123: On an average day, your firm receives
Q124: Your firm spends $150,000 a week to
Q125: BullsNBears, a purveyor of financial databases, estimates
Q126: Jumping Jack Rope Company receives a total
Q127: Your firm deals strictly with five customers.
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents