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Problem:

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.

Required:

Question: 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

Note: Provide support for your rationale.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91163244

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