What is the firms net float-net collection float

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Reference no: EM13947333

Tanner Tavern writes four checks a day for an average amount of $5,400 each. These checks generally clear the bank four days after they are written. In addition, the firm generally receives and deposits checks amounting to $18,700 each day. All deposits are available on the next day. What is the firm's net float?

Options:

Net collection float of $13,200

Net collection float of $18,700

Net collection float of $22,300

Net disbursement float of $67,700

Net disbursement float of $86,400

Reference no: EM13947333

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