What is the average amount of the collection float

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Reference no: EM131561781

On average, your firm receives 62 checks a day from customers. These checks, on average, are worth GHS 39.90 each and clear the bank in 1.5 days. In addition, your firm disburses 38 checks a day with an average amount of GHS 89.50. These checks clear your bank in 2 days. What is the average amount of the collection float?

Reference no: EM131561781

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