Your average customer is located 5 mailing days away from your firm. You have determined that on average it is taking your firm 2 days to process payments received from customers. In addition, it
Takes 3 days for your funds to be available for use once you have made your bank deposit. What is
Your firm's collection time?
A) 1 day
B) 4 days
C) 6 days
D) 7 days
E) 10 days
Correct Answer:
Verified
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