Your firm receives 85 cheques from customers on an average day. These cheques, on average, are worth $132 each, and are processed and clear the bank in 3 days. In addition, your firm disburses 10
Cheques a day with an average amount of $10,400. These cheques clear your bank in 2 days. What
Is the average amount of the collection float?
A) $11,220
B) $33,660
C) $64,900
D) $70,340
E) $104,000
Correct Answer:
Verified
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