It takes an average of one day for the funds from these


Harvest Foods generally receives three checks a month in the amounts of $38,950, $16,750, and $63,800. It takes an average of one day for the funds from these checks to be added to the firm's available balance at the bank once they have been deposited. What is the amount of the average daily float? Assume a 30-day month.

Solution Preview :

Prepared by a verified Expert
Financial Management: It takes an average of one day for the funds from these
Reference No:- TGS01720356

Now Priced at $10 (50% Discount)

Recommended (94%)

Rated (4.6/5)