Charlies' writes 135 checks a day for an average amount of $480 each. These checks generally clear the bank in 3 days. In addition, the firm generally receives an average of $159,000 a day in checks that are deposited immediately. Deposited funds are available in 1.5 days. What is the firm's net float?
A) Net disbursement float of $94,200
B) Net disbursement float of $44,100
C) Net disbursement float of $34,750
D) Net collection float of $44,100
E) Net collection float of $94,200
Correct Answer:
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