Abc company writes 394 checks a day for an average amount, Financial Management

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Abc company writes 394 checks a day for an average amount

ABC Company writes 394 checks a day for an average amount of $697 each. These checks generally clear the bank in 4 days. In addition, the firm generally receives an average of $151,031 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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Financial Management: Abc company writes 394 checks a day for an average amount

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