Homework Answers
Answer
b. Mail a cheque to pay your rent.
Reason
A Disbursement float occurs when a person or company writes a check (mails);when this cheque is deposited it usually takes few days to clear.The float is reflected as a decrease in cash ledger,but remains as a part of the balance in the companies checking account.So,it's actually the money that a person has spent but that has not yet been taken out of his bank account since the recipient has not yet cashed the check.
Here,it's the time between check is mailed and when funds(rent amount) are debited from the payor's (our) account.
[The time it takes for the bank to actually clear the banking system and transfer funds (rent amounts) out of your account to payee's]
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