On a typical day,U.C. Stars Vision Center writes $30,000 in checks, which take THREE days to clear. They receive an average of $40,000 in checks from patients on a daily basis, which take five days to clear. (Show your work)
a. What is U.C.’s disbursement float?
b. What is U.C.’s collections float?
c. What is U.C.’s net float?
d. What does this mean for U.C.?