Firm disbursement float-collections float and net float

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Reference no: EM131013034

Smitty's Chop Shop normally writes checks in the amount of $15,000 each day. It takes five days for these checks to clear through the banking system. The firm also receives checks in the amount of $12,000 daily but loses four days while they are being deposited and cleared. What is the firm's disbursement float, collections float, and net float?

Reference no: EM131013034

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