In a typical month, the Jeremy Corporation receives 100 checks totaling $80,000. These are delayed 7 days on average. What is the average daily float? Assume 30 days per month ?
Darshita Changed status to publish August 12, 2020
Answer:
Average daily float
= 7($80,000)/30
=18,667.00
Average daily float = $18,667.00
Darshita Changed status to publish August 12, 2020
