Calculate the payment float and availability float why does, Financial Management

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Calculate the payment float and availability float why does

A company has the following cash balances: Company’s ledger balance = $600,000 Bank’s ledger balance = $625,000 Available balance = $550,000

a. Calculate the payment float and availability float.

b. Why does the company gain from the payment float?

c. Suppose the company adopts a policy of writing cheques on a remote bank. How is this likely to affect the three measures of cash balance?

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