Solved

Tanner Tavern Writes Four Checks a Day for an Average

Question 88

Multiple Choice

Tanner Tavern writes four checks a day for an average amount of $5,400 each.These checks generally clear the bank four days after they are written.In addition,the firm generally receives and deposits checks amounting to $18,700 each day.All deposits are available on the next day.What is the firm's net float?


A) Net collection float of $13,200
B) Net collection float of $18,700
C) Net collection float of $22,300
D) Net disbursement float of $67,700
E) Net disbursement float of $86,400

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents