As of this morning, a firm had a ledger balance of $1,252 with no outstanding deposits or checks.Today, the firm deposited three checks in the amount of $63 each and wrote a check in the amount of $235.What is the amount of the collection float as of the end of the day assuming none of these checks had cleared?
A) $46
B) $828
C) $424
D) $189
E) $1,070
Correct Answer:
Verified
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