On any given day, Marlene's receives and deposits numerous checks worth an average combined total of $2,348.The funds from these checks are generally available in 1.5 days.Every day the firm mails out checks totaling $1,900 that generally take 1.7 days to clear the bank.What is the amount of the disbursement float if the opening bank balance was $1,015 with no outstanding items?
A) $2,850
B) $2,950
C) $3,800
D) $3,230
E) $3,865
Correct Answer:
Verified
Q103: PP&M sells earnings forecasts for international securities.Its
Q104: On April 14, Dominic's purchased $7,800 worth
Q105: Eastlake's has an average collection period of
Q106: During a normal month, Jim's Gems receives
Q107: Forest Living has annual credit sales of
Q108: Westpond's has an average collection period of
Q109: A firm offers terms of 2/5, net
Q110: Cymbal Sales sells 725 musical instruments a
Q112: Stinkey sells 2,250 units of its perfume
Q113: Roberts Trucking writes two checks a day
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents