In a typical month, the Jeremy Corporation receives 80 checks totaling $95,000. These are delayed 4 days on average. What is the average daily float? Assume 30 days per month.

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In a typical month, the Jeremy Corporation receives 80 checks totaling $95,000. These are delayed 4 days on average. What is the average daily float? Assume 30 days per month.

Darshita Changed status to publish August 12, 2020
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Answer:

Average daily float

= 4(95,000)/30

=12667

Average daily float = =12667

Darshita Changed status to publish August 12, 2020

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