Ch 19 Problems 1,2,3,5 pages 631-632

# Ch 19 Problems 1,2,3,5 pages 631-632 - xizhou problem1...

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xi zhou problem 1 the jeremy corporation receives 80 checks totaling \$156,000. There are delay 4 days on average. What  total \$156,000  average delay 4 days assuming 30 days in a month average daily float (4*\$156,000)/30  \$20,800  problem 2 a company writes checks totaling \$14,000  clearing time \$4  days reveing(in the form of checks) \$26,000  the cash from the payments is available to firm after 2 days a. the disbursement float= the average monthly checks written * the average number of days for the check the disbursement float=  4*\$14,000  \$56,000  the collection float=the average monthly checks received * the average number of days for the checks to collection float= \$-26,000*2  \$(52,000) net float=disbursement float=the collection float net float=\$56000-\$52000  \$4,000  b. collection float=-\$26000*1 (\$26,000) net float=\$56000-\$26000  \$30,000  problem 3 reveive an average in check per day

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Ch 19 Problems 1,2,3,5 pages 631-632 - xizhou problem1...

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