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Unformatted text preview: side as a deffered availability account and on the asset side it notes it as a cash iteam in process of collection. Usually there is a deffered available time schecule which is rated by the time that it might take for a banks check to chear. 0+same day 1= next day 2= day after next Federal reserve float; extra reserves WHY DOES FLOAT OCCUR? 1. Transportation delays 2. Holdover 3. Rejected items ***checks availability 1987 law: $ 100 can be access immediately upon deposit $2,500 checks or less local items 2 days Non local items 5 days *** checks are scan through MICR which stands for magnetic ink credit symbol...
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This note was uploaded on 10/12/2011 for the course BUSN 3320 taught by Professor Friedman during the Fall '11 term at CUNY Brooklyn.
- Fall '11