
Hoyes Lumber generally receives three checks a month in the amounts of $654, $987, and $1,310. The $987 check has a two-day collection delay while the others have a one-day delay. Given this information, what is the amount of the average daily float? Assume each month has 30 days.
A) $131
B) $143
C) $147
D) $128
E) $122
Correct Answer:
Verified
Q55: High Brow Express deals strictly with two
Q56: Cross Trucking provides services exclusively for three
Q57: The Blue Star generally receives only three
Q58: On an average day, GDF Corp. receives
Q59: Southern Meals generally receives four checks a
Q61: Each business day, on average, a company
Q62: Paper Mfg. is investigating a lockbox system
Q63: On an average day, WW Co. receives
Q64: On an average day, BJ Footwear receives
Q65: Currently, it requires two days to process
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents