Solution-Computing the average amount

Computing the average amount

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Reference no: EM131402069

ABC Company writes 111 checks a day for an average amount of $431 each. These checks generally clear the bank in 5 days. In addition, the firm generally receives an average of $120,169 a day in checks that are deposited immediately. Deposited funds are available in 1 days. What is the firm's net float?

Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box.

Reference no: EM131402069

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Computing the average amount : ABC Company writes 111 checks a day for an average amount of $431 each. These checks generally clear the bank in 5 days. In addition, the firm generally receives an average of $120,169 a day in checks that are deposited immediately. Deposited fund..

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Computing the average amount

Reference no: EM131402069

Reference no: EM131402069

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