The BDF Co. receives five cheques per month, each month. The payments and clearing times are: $4,000, two days; $6,000, two days; $3,000, five days; $8,000, three days, and $7,000, four days. Assume a 360-day year.
What are the average daily receipts?
A) $76.71
B) $686.67
C) $920.55
D) $933.33
E) $1,019.19
Correct Answer:
Verified
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