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ABC Company writes 54 checks a day for an average amount of $986 each. These checks generally clear the bank in 5 days.

ABC Company writes 54 checks a day for an average amount of $986 each. These checks generally clear the bank in 5 days. In addition, the firm generally receives an average of $11,662 a day in checks that are deposited immediately. Deposited funds are available in 1 days. What is the firm's net float?

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the firm's... View the full answer

2 comments
  • thank you so kindly, can you help with this.? ABC Company has projected Sales of $21,602 in January. The sales are expected to grow by 12% each month. ABC's collection schedule is as follows: ABC collects 68 percent of its sales in the month of sale and the remainder is collected in the following month. What is the amount of the April cash collections? Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box.
    • george45312
    • May 05, 2018 at 6:06pm
  • welcome. Kindly post this new question separately since it is missing relevant information. thank you.
    • joeytutor
    • May 05, 2018 at 6:14pm

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