Marston Corp. writes 43 checks a day for an average amount of $458 each. These checks...
Marston Corp. writes 43 checks a day for an average amount of $458 each. These checks generally clear the bank 3.25 days after they are written. In addition, the firm generally receives 55 checks with an average amount of $547 each. Deposited amounts are available after an average of 2.75 days. What is the firm's disbursement float?
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$64,006
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$82,734
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$19,694
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$30,085
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$18,728
Homework Answers
Disbursement float is sum total of all the cheques which have been issue to the suppliers but are in the process of being presented to the bank for payment.
No. of Check issued =43 Checks
Average Amount= $458
Disbursement float = 43* $458
=$19,694
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