Problemon a typical dayuc stars vision center writes 40000, Ask an Expert

Accounting

Problem:

On a typical day,U.C. Stars Vision Center writes $40,000 in checks, which take five days to clear. They receive an average of $50,000 in checks from patients on a daily basis, which take three days to clear.

Required:

Question 1: What is U.C.'s disbursement float?

Question 2: What is U.C.'s collections float?

Question 3; What is U.C.'s net float?

Question 4: Does this mean for U.C. will need to fund, or invest the float?

Note: Please show the work not just the answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91167606

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