A manager estimates that her firm benefits from an average float time of six days.Which of the following is true if the firm averages $15,000 per day in payments?
A) the firm is losing interest on $90,000 per year
B) the firm's ledger balance averages $90,000 more than the bank's ledger balance
C) the firm has $45,000 in net float
D) the available balance at the bank is $90,000 greater than shown on the firm's books
Correct Answer:
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