When Chris balanced her business check book, she had an adjusted bank balance of $8,911. She had three outstanding deposits worth $349 each and seven checks outstanding with a total value of $948. What is the amount of the collection float on this account?

Question

Quizplus · Accepted Answer

The collection float is the amount of the outstanding deposits, which are three deposits worth $349 each. So, the collection float is 3 * $349 = $1,047.

When Chris Balanced Her Business Check Book, She Had an Adjusted