Tanner tavern writes four checks a day for an average, Financial Management

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Tanner tavern writes four checks a day for an average

Tanner Tavern writes four checks a day for an average amount of $5,400 each. These checks generally clear the bank four days after they are written. In addition, the firm generally receives and deposits checks amounting to $18,700 each day. All deposits are available on the next day. What is the firm's net float?

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