What is the firm collection float

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Reference no: EM131545132

On an average day, Wilson’s Meats receives 20 checks from customers that average $1,200 each. It takes half a day to process these payments and another day for the funds to become available. Wilson’s also receives $48,000 of daily payments from customers who are billed and pay electronically. The electronic payments are available immediately. What is the firm's collection float?

Reference no: EM131545132

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