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Your Firm Generally Receives 4 Checks a Month

Question 53

Multiple Choice

Your firm generally receives 4 checks a month.The check amounts and the collection delay for each check is shown below.Given this information what is the amount of the average daily float? Assume a 30 day month. Your firm generally receives 4 checks a month.The check amounts and the collection delay for each check is shown below.Given this information what is the amount of the average daily float? Assume a 30 day month. A) $1,120 B) $2,333 C) $2,640 D) $2,900 E) $3,416


A) $1,120
B) $2,333
C) $2,640
D) $2,900
E) $3,416

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