The Lawrence Stone-Age Pottery Co. receives 50 cheques per month from customers. Average payments and clearing times are as follows: five cheques for $21,000, two days; 15 cheques for $58,000, three days; 25 cheques for $37,000, four days; and five cheques for $10,000, five days. Assume a 360-day year.
What are the average daily receipts?
A) $31,676
B) $39,102
C) $56,267
D) $65,000
E) $68,901
Correct Answer:
Verified
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