Decatur arts center writes 158 checks a day for an average, Ask an Expert

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Decatur Arts Center writes 158 checks a day for an average amount of $211 each. These checks generally clear the bank 3.5 days after they are written. In addition, the firm generally receives an average of $50,000 a day in checks. The checks that are received are deposited immediately and the funds are generally available the following day. What is the amount of the firm's disbursement float?

A. $104,625.00 B. $116,683.00 C. $155,255.50 D. $170,450.00 E. $50,000.00

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Financial Management, Finance

Category:- Financial Management
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